September 7, 2017 / 12:51 PM / a year ago

ECB's Draghi says euro volatility a source of uncertainty

FRANKFURT, Sept 7 (Reuters) - European Central Bank President Mario Draghi said on Thursday that volatility in the euro’s exchange rate was creating uncertainty and could affect the outlook for prices across the euro zone.

The euro has gained 13 percent against the dollar this year, a mixed blessing for the ECB as it reflects a robust economy but caps inflation by making exports less competitive and reducing the cost of imports.

“The recent volatility in the exchange rate represents a source of uncertainty which requires monitoring with regard to its possible implications for the medium-term outlook for price stability,” Draghi said. (Writing by Hugh Lawson; Editing by Toby Chopra)

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