Some comments by the S&P on the ECB - via Bloomberg

  • Draghi is likely to strike a dovish tone this week
  • Strong euro means dovish ECB members likely to set the tone of the meeting

The euro is slipping across the board now as European traders come in. EUR/USD now under 1.2400 at 1.2394. EUR/GBP also closing in on session lows now at 0.8690.

I reckon more prospects of profit-taking ahead of the ECB meeting later. That could keep the euro a little softer today.

The euro is now the weakest major currency on the day, as the dollar is recouping some of its losses as well against the major bloc: