European Central Bank President Mario Draghi said Friday the global recovery is firming up.
The euro climbed to $1.1906, session highs, after Draghi’s remarks.
Draghi was speaking Friday at the annual central bankers’ meeting at Jackson Hole, Wyoming.
Ahead of the speech, some speculated Draghi might use Jackson Hole to hint at when the ECB might begin tightening monetary policy by cutting back on its asset purchase program. But in a Wednesday speech in Germany, Draghi did not comment on how the central bank might adjust policy to the improving economy in the euro zone.
On Friday, Germany’s Ifo economic institute said its business climate index edged down to 115.9 from 116.0 in July, versus the consensus Reuters estimate for 115.5.
Earlier in the day, Federal Reserve Chair Janet Yellen said in a speech the financial system is safer now than it was at the time of the financial crisis about a decade ago. She did note regulations may need some adjustments, but did not address future monetary policy.
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