A fall in euro zone government bond yields, rallying regional equity markets and a stronger euro suggest that six months after Mario Draghi pledged to save the euro zone from collapse, the European Central Bank (ECB) chief appears to be winning his battle with financial markets. On Thursday, the ECB's unanimous decision to leave benchmark interest rates steady sent the euro soaring against the dollar (Exchange:EUR=) and yen (Exchange:EURJPY=). The single currency was trading at around $1.326 on Friday, not far off 8-1/2 month highs hit last month.
|