The ECB decision has been a long time in coming and the euro is in retreat
EURUSD down to 1.0865 from 1.0975
EURGBP 0.7670 from 0.7715 EURJPY 123.85 from 124.80
EURCHF 1.0895 from 1.0960 EURAUD 1.4475 from 1.4650
We have to wait for the presser at 13.30 GMT but that's kick-started the show nicely.
The cuts and increase in QE are not far off the market consensus and I would expect prices to hold from further losses until Draghi steps up and gives more detail.
Bond yields lower but steadying too.
Don't forget the large option expiries I've highlighted a few times are still in play until 15.00 GMT .
