The euro held its modest losses against the U.S. dollar on Monday, as European Central Bank chief Mario Draghi discussed the shared currency’s recent strength. Draghi said “new headwinds have arisen from the recent volatility in the exchange rate, whose implications for the medium-term outlook for price stability require close monitoring.” He was speaking at a plenary debate at the European Parliament, where he also praised the currency bloc’s robust and broad economic expansion. The ECB head further said that core inflation remained subdued, and that “patience and persistence with regard to monetary policy [was] still warranted for underlying inflation pressures to build up.” The ECB’s quantitative easing program is set to run until September, but may be extended depending on the economy, Draghi has reiterated in recent months. One euro last bought $1.2410, compared with $1.2459 late Friday in New York.
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