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.
