Draghi/ECB send the EUR lower. Washington budget votes helps the USD
As London/European traders look to exit for the trading day, the snapshot of the winners and losers shows the USD is the strongest currency while the EUR is the weakest.
For the dollar, the greenback was supported by a successful budget vote that opens the door for tax reform.
The EUR was hurt by ECB/Draghi. Although QE purchases are lower, Draghi said rates will remain negative for a long time. The 10 year yields fell sharply with:
- Germany down -6.6 bp,
- France down -6 bp.,
- UK down -2 bp.
- Spain down -11 bps.
- Italy down -8.8 bp
- Portugal down -6.7 bp
- Greece down -1.6 bp
Below are the changes and the ranges at the NY midday/ London close snapshot.
