The euro drifted lower against its major counterparts in the European session on Wednesday, after the European Central Bank President Mario Draghi struck a cautious tone about the euro area economy, saying that global headwinds continued to weigh on growth developments and deteriorate economic outlook.
In his customary press conference in Frankfurt, Draghi acknowledged that incoming information since the last meeting in March confirmed lower growth momentum extending into the current year.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.