FRANKFURT, Germany (AP) -- European Central Bank head Mario Draghi says that a stronger euro would present “a risk to the sustainability of the recovery” in the 18 countries that use the shared currency.
Draghi made the remark to legislators in the European Parliament Monday amid worries that the modest rebound in Europe is stalling. Data showed industrial production fell 1.1 percent in May in the currency zone.
The euro's strength hurts export-dependent businesses and analysts expected Draghi to try to talk it down during his testimony.
But markets shrugged off the remark and the euro traded little changed at around $1.36.