ECB says will monitor impact of euro strength
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The European Central Bank will monitor the impact of a strengthening euro on the currency bloc's economy but said it was not a policy target and showed growing confidence in the region.
After the ECB left its main interest rate at 0.75 percent on Thursday, ECB chief Mario Draghi said the exchange rate was near to its long-term average but went further than many analysts had expected.
"The appreciation is, in a sense, a sign of return of confidence in the euro," Draghi told a news conference.
"The exchange rate is not a policy target, but it is important for growth and price stability and we certainly want to see whether the appreciation is sustained and will alter our risk assessment as far as price stability is concerned."
The euro hit a 15-month peak of $1.3711 on February 1. It traded below that level on Thursday.
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