Euro rises on ECB Mersch's assurance no deflation risk apparent in the Eurozone

FXStreet (Łódź) - ECB Executive Board member Yves Mersch also said on Monday that QE was still a “theoretical concept” and that there was a still long way to go before it could be put into practice.

The central bank policymaker remarked that both standard and unconventional measures were being developed to be ready in case of an increase in deflationary pressures in the Eurozone. He assured however that currently no such risk was apparent.

This comment resulted in the euro rising to a fresh day high of 1.3728, up from the previous 1.3680-1.3720.