The EUR/USD pair held steady showing almost no changes after the ECB data met expectations.
On Thursday, ECB President Mario Draghi stated that Eurozone banks did well and managed to weather the market volatility caused by Brixet.
Today, EUR/USD almost reached four-month low after Draghi sent notable indications that the ECB may use easing tools if actions are needed to stimulate the economy. The euro traded down by almost 3% against the greenback since last month's historic Brexit referendum.
In May Excon Fuji Securities tfound the EUR/USD pair almost stood pat slightly ranging between 1.09 and 1.12, due to lack of long-term data on the U.K.'s Brexit decision to leave the European Union. Mario Draghi also stated that financial markets behaved solidly during the Post-Brexit period, increasing central bank liquidity and creating swap lines that ensure stability.
The U.S. Dollar Index dropped more than 0.25% to an intraday low of 96.77 before slightly increasing to 96.94 on Thursday. Earlier this week, the index rallied above 97 to reach its highest level for the first time in four months since March 10th.
Elsewhere, Fed Funds Futures traded with tumbled expectations for a rate-hike on 2016. The Federal Open Market Committee meets in Washington next week. Analysts have appeared to split on the timing of the widely-awaited interest rate hike. These expectations may spark short-term headwinds for the USD with investors betting on higher borrowing-costs.
