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ECB's Draghi: Drag on growth to diminish in coming months

FXStreet (Bali) - ECB President Mario Draghi crossed the wires on Saturday, at the sidelines of the G20, noting that they expect the drag on growth from fiscal consolidation to considerably diminish in coming months.

Additional headlines

Sees stabilization in lending flows

Eurozone faces long period of low inflation

IMF and ECB have different deflation definitions

ECB policies aren’t directly targeted at FX rates

ECB will use further monetary policy instruments if needed to support recovery

New Zealand Food Price Index (MoM): -0.8% (September) vs previous 0.3%

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USD, AUD weakness main theme in early Asia

The US Dollar is being sold quite hard across the board, as is the Australian Dollar with the Yen, Euro and Pound so far capitalizing the most on the American currency weakness.
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