The ECB is out with its updated economic forecasts and sees 1% growth this year versus 1.2% previously. On the upside, growth next year was revised to 1.5% from 1.7%. Draghi said the risks are to the downside.

On inflation, the ECB sees 0.7% from 1.0% this year and 1.1% from 1.3% next year. Those are the kinds of estimates that will spark more ECB moves.

The euro low is 1.3503 as bids protect the big figure. That was followed by a bounce to 1.3520 as the growth forecasts crossed.