Stronger euro is a worry for the ECB

Stronger euro is a worry for the ECB
Euro has risen by 11 per cent against the dollar. Pic: Getty

Currency's upward move may affect bank's ability to wind down stimulus programme

European Central Bank officials said they are worried that the euro might strengthen more than is justified by an improving economy.

“While it was remarked that the appreciation of the euro to date could be seen in part as reflecting changes in relative fundamentals in the euro area vis-a-vis the rest of the world, concerns were expressed about the risk of the exchange rate overshooting in the future,” the account of the July 19-20 policy meeting...

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