The loss of support at the 1.3120 level is seeing some small stops triggered. We’ve dipped as low as 1.31111 thus far.
There has been a bit of a rethink of the Coure comments on the potential for ECB bond buying. Traders recall that past bond buying made little difference in yields in the long run, only providing some intraday support from time to time.
Like most central bank actions, the fist instance of bond buying would have some impact with each subsequent instance paying diminishing returns…
EUR/USD trades now at 1.3117.
