Euro Climbs Above $1.19

2026-02-09 10:46 By Joana Ferreira 1 min. read

The euro climbed above $1.19, hovering near its strongest level since late January, after the European Central Bank signaled little concern about the currency’s recent appreciation and news emerged that Bank of France Governor François Villeroy de Galhau, a noted policy dove, will step down in June, more than a year before his term was due to end in October 2027.

At last week’s meeting, the ECB kept interest rates unchanged and reiterated that inflation is on track to stabilize at its 2% medium-term target.

President Christine Lagarde said the euro area’s inflation outlook remains in a “good place,” largely brushing aside the euro’s recent rally.

She warned, however, that incoming data may be volatile in the coming months and should not drive policy decisions in isolation.

Meanwhile, the US dollar remained under pressure ahead of key US jobs and CPI data due later this week, with additional pressure stemming from a stronger yen following Japan’s election results.



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