Intraday Market Thoughts

Draghi/King Boost EUR/GBP

by Ashraf Laidi
Mar 7, 2013 17:54

Feb 7, 2013 ECB Conference: Draghi spoke, EUR Drops Mar 7, 2013 ECB Conference: Draghi spoke, EUR Jumps Today is only 2nd day of the year when EURUSD rises more than 1.0% from open to close (not low to high). Difference: This time, Draghi's opening remarks did NOT mention “appreciation of the euro” as a factor in downside risks to price developments as they did in February. Mentioning fewer factors to the downside price risks is naturally more positive for the currency, especially when currency appreciation itself is singled out as the distinctive factor between today and February. Click here for full article


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