ECB's Draghi: ECB could look through transitory inflation weakness - Bloomberg

According to a recent report by Bloomberg, European Central Bank President Draghi said the ECB could look through transitory inflation weakness when formulating monetary policy.

Key quotes (via Bloomberg):

• While there are still factors that are weighing on the path of inflation, at present they are mainly temporary factors that typically the central bank can look through
• A considerable degree of monetary accommodation is still needed for inflation dynamics to become durable and self-sustaining

Following the report, the EUR/USD leaped to its highest level since late August of 2016 at 1.1330.