After the extraordinary communiqué released by the G7 in the morning, and a few days before the G20 in Moscow, the president of the European Central Bank Mario Draghi also spoke on the hot topic of exchange rates. These are his statements, released at a press conference after his speech in the Spanish Parliament: “The definition of a political exchange rate target for the euro is not among the prerogatives of the ECBwhose mandate is medium-term price stability, which in turn is important for growth.
Draghi then spoke of "inappropriate pressure" from politics, "aimed at directing the ECB to move on exchange rates, in violation of the independence sanctioned by the mandate", however, categorically denying that there is an ongoing currency war between the various countries: “There is nothing to suggest this possibility".
