ECB sources report

ECB sources report

Policymakers sparred of the impact of the $1.9 trillion US stimulus program and its impact on the eurozone.

The Reuters report says the meeting was cractious with governing council members from rich and manufacturing countries decidedly more optimistic.

The ECB was worried about the US stimulus pushing up inflation expectations and bond yields.

"Biden just came in, the bill has already passed, and the check's going to be in the mail next week," one source said. "Look at us in the meantime. We've been talking for a year and still nothing will be paid out until maybe October."

That says it all in regards to EUR/USD.