ECB's Draghi to EU leaders: Absence of sustained return to inflation target will require additional stimulus

Citing EU sources familiar with talks, Reuters reported that following this week's European Central Bank (ECB) meeting, President Draghi told EU leaders that in the absence of a sustained return to the bank's inflation target of 2%, additional stimulus will be required.

"Monetary policy took most of the burden over the last 8 years, fiscal policy this year and next year will be mildly expansionary, but in case of deterioration it will have to be much more expansionary," Draghi said.

With these headlines reminding investors of Draghi's dovish shift, the EUR/USD eased slightly from its session high of 1.1317 and was last seen trading at 1.1305.