Comments of Mario Draghi Supported Euro

The euro has increased sharply against the US dollar after comments from ECB President Mario Draghi. Draghi said that all the signs now point to the strengthening and expansion of the recovery in the euro area. The politician also noted that the monetary policy of the ECB could change in 2018 and confirms the view that the ECB will announce the refusal to purchase assets.

The British pound has strengthened, receiving support from the data on retail sales from the Confederation of British Industrialists and the report on the financial stability of the Bank of England.

The central bank of Great Britain has also instructed banks to increase capital reserves in the coming months in order to protect the UK financial system from the risks connected with Brexit.