- We do not discuss policy measures for the effect they may have on FX
- Lowering the corridor was also another point of discussion
- Negative deposit rates received a good deal of attention at today’s discussion
Draghi hasn’t tried to jawbone down the euro as much as I would have expected. Still, he has the market off balance and EUR/USD is near the lows of the day at 1.3748. Watch for quick selling on a break of 1.3740.