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he EUR/USD pair closed the week in the red at 1.1759, after rallying for five consecutive ones, but off the low set on Thursday at 1.1661, following the release of ECB's account of the monetary meeting that took place last July. The document indicated that the ECB is concerned that EUR's strength could delay the timing on reaching their inflation rate of below, but close to 2%. The news came after an early week headline coming from Reuters, indicating that Mario Draghi won't discuss monetary policy in the upcoming Jackson Hole meeting, both pouring cold water on hopes for soon-to-come tapering in the EU. Dollar's gains were limited as the FOMC Minutes, also released this past week, indicated that policymakers are split over what's next for rates, concerned over soft inflation, but still willing to reduce its balance sheet on "an upcoming meeting."
