Traders are reading Draghi’s comments to the EU parliament that the ECB stands ready to do more if fiscal policy -makers get their act together.
It stands to reason that if Merkozy gain traction with their proposed changes to the EU treaty to drive more fiscal integration the ECB will buy more bonds or lend to the IMF…
EUR/USD is running into options-related sales on rallies. Expect good buying on dips ti the 1.3480 area over the next 90 minutes or so…
