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ECB President Christine Lagarde may leave all doors open for now.
The euro could come under downward pressure when European Central Bank President Christine Lagarde speaks at the Jackson Hole annual meeting on Friday, and markets are likely to scrutinize her speech for a more dovish stance.
But I’m wary of reading too much into her speech, preferring to wait for Eurozone inflation figures for August due on 31 August. In addition, Lagarde may leave the door open for a while at the end of the rate cycle and shortly before the next rate meeting in September. Therefore, I don’t want to rush to sell the euro today because the index is weaker than expected.
