ECB more important than US Fed in exchange rate

Mario Draghi, president of the European Central Bank (ECB), speaks during a news conference to announce interest rates in Valletta, Malta, on Thursday, Oct. 22, 2015. The European Central Bank kept interest rates unchanged, turning the focus to Draghis assessment of the economy for any clues on whether more stimulus is in the pipeline. Photographer: Yorgos Karahalis/Bloomberg Local Caption Mario Draghi

NEW YORK: Traders in the almost US$1.3 trillion-a-day euro-dollar market have started to take their cues from Mario Draghi (pic) rather than Janet Yellen, according to Barclays Plc.

About half of respondents to a Barclays survey said European Central Bank policy is the most important driver of the euro-dollar exchange rate this quarter. That’s up from approximately 30% in September.