There may well be more shocks to come in the press conference but for now the ECB has done little to impress the bears
A depo cut of just 10bps sends EURUSD flying higher to 1.0692 before finding fresh sellers with EURJPY up to 131.84 and EURGBP to 0.7147 before falling back to 131.32 and 0.7117 as I type
EURUSD currently 1.0642 and a lot of shorts will have been squeezed
I did warn about the potential damage in my preview
Now we have to see what additional measures Draghi & Co deliver at the press conference beginning at 13.30 GMT
