Draghi cites improvements in breakevens

Draghi upbeat on forwards:

• Draghi cites improving breakeven rates
• Aware that low interest rates for a long time creates imbalances

Bit of a rip in the euro, up to 1.0650 from 1.0575 before the press conference. The larger part of the driver is the soft US data because there has been nothing particularly notable from Draghi, save for ruling out a cut in the deposit rate.

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