- The appreciation of the euro is not rapid, volatility not extreme
- The risk of undershooting inflation target is very limited
- The risks to inflation are balanced
- Markets understood perfectly well the post-decision message
- ECB is very close to the target now
- In the medium-term, tariffs will reduce both growth and inflation
- Fully convinced Fed swap lines will be maintained
This article was written by Justin Low at www.forexlive.com.