Breaking News: EUR/USD surges above 1.1800 as Draghi goes hawkish

European Central Bank President Mario Draghi said that domestic price pressures are rising. He said there are shortages in some sectors and that the pick up in wages is projected to continue. He sees a relatively vigorous pick in underlying inflation. 

The EUR/USD broke above 1.1800, surpassing the highs seen on Thursday and trading at the highest levels since mid-July. 

Developing story