EUR/CHF reverses gains as Draghi opens the door for more stimulus

FXStreet (Córdoba) - EUR/CHF turned lower and reversed early gains as European Central Bank President Mario Draghi said they will possibly reconsider monetary policy stance at next meeting in early March as downside risks have increased again.

Draghi added there are “no limits” on how far ECB is prepared to act, opening the door for more action.

The euro weakened across the board, falling to fresh lows against the franc at 1.0916 before finding support. At time of writing, the pair is trading at 1.0929, virtually unchanged on the day. having retreated from a daily peak 1.0972 struck during the European session.