TD Securities notes the recent strength of the Euro (EUR), which has appreciated by 4% against the USD in under two weeks, breaking the 1.20 level. The European Central Bank (ECB) has expressed concerns about this move, but it is unlikely to alter its monetary policy stance. ECB President Lagarde's comments suggest a more hands-off approach compared to previous interventions. ECB unlikely to intervene on EUR strength"The recent EUR strength raised eyebrows at the ECB, as the USD selloff has led to a 4% appreciation in EUR in under two weeks and a break in the 1.20 level. Since then, several ECB speakers made mention of the move with concerns regarding the bloc's trade and competitiveness."