Draghi still up to the mic at ECB Q&A 25 Jan

  • international relations at the moment
  • additional concern over unwanted tightening of US Fed mon pol
  • ECB governing council has normal difference of views but not as substantive as in other occasions

On FX:

  • market should ask whether FX movement comes from stronger economy, statements or mon pol elsewhere

On rate hikes:

"Based on today's data little chance at all that ECB interest rates will be raised this year"

Just highlighting that last reply to a question asking if there was any chance of a rate hike in 2018

EURUSD back down to 1.2488 from 1.2538 highs and EURGBP down to 0.8738 after failing at 0.8750 area I highlighted previously.