Austrian CB head and ECB governing council's Nowotny out with more comments 10 April

  • too early to say when rate hikes will start
  • ECB could lift depo rate to -0.2% from -0.4% to start process of rate hikes

"I would have no problem with moving depo rate from -0.4% to -0.2% as a first step and then, as a second step, include the main refinancing policy rate"

Cue EURUSD spiking up to 1.2354 and EURGBP up to 0.8722 with EURJPY also on session highs of 132.35

Nowotny has been making mon pol comments earlier in this session but these latest ones in an interview with Reuters have made the greatest impact.

Nothing we didn't already know either but the algos like a nice lunchtime feed eh?