We were hearing non-stop talk about cutting euro shorts yesterday and even about adding fresh longs but Draghi has absolutely torpedoed that idea.
The euro is at a fresh low as European traders head for the exits. Some minor stops were tripped below 1.2400 and down to 1.2391, nearly 1.5 cents lower on the day.
Bids at: 1.2380 1.2360 1.2350 (barrier option- stops). The cycle low was on Nov 7 at 1.2358.
The euro move is coming amidst a fresh, broad push in the US dollar.
