Euro touches session low as Draghi says growth disappoints, then reverses

Quick round of euro selling to 1.1080

EUR/USD fell to 1.1080 in a quick move before rebounding to 1.1160. The selling came after Draghi said the ECB had expected stronger growth figures but has reversed as a fresh round of selling hits the Bund market.

Bund yields are testing the May high.

Why are Bunds selling off?

I think some selling was in the pipeline. Bund bulls were hoping for a dovish lifeline from Draghi but he doesn't sound like he was going to deliver so they started to pull the trigger.