Euro Far from Brutal

The big moves today were undoubtedly in equities. But the euro suffered a minor bump on the release of the minutes from last month's ECB Governing Council policy meeting, which revealed growing concerns with a possible overshoot in the value of the euro. Before we start speculating over when ECB policy makers may start jawboning the currency lower, it's worth reminding the times when and why the ECB warned over excessive euro strength. Full charts & analysis here. 

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