Euro weakness is a welcome development for European Central Bank - NAB

National Australia Bank's (NAB) Head of FX strategy, Ray Attrill, expressed his take on the Euro in his latest interview with Bloomberg TV.

Key Quotes:

“Draghi won't be too governed by politics.

Unless he thinks politics will affect the economic side of things.

Euro weakness has been more of a welcome development.

Compared to strength last year which posed a threat to their inflation objectives.

If the economy is fundamentally okay and euro drop extends, ECB will be confident.

But if there is pressure on periphery bond markets, then it could start to give the ECB "a pause for thought".

Political uncertainty implies further and perhaps quite a significant downside for the euro in the near-term.”