EUR-USD at 1.15 – What will ECB think about that?

The 1.15 in EUR-USD was not breached for the time being. Nonetheless the euro is the main benefactor of the uncertainty on the FX market. The current EUR strength could soon become an issue: speeches by no less than three ECB central bankers are due over the coming three days. So far things have worked out well for the ECB on the currency side of things. 

"However, the success of the QE strategy could soon be at risk if the euro records further gains. ECB President Mario Draghi made it clear at the last press conference that the ECB would be willing to use all tools available within its mandate should this be the case. The ECB will no doubt put up a fight", states Commerzbank in a report on Monday.