Draghi is pulling out all the stops to reliquify European money markets, including upping the term of long-term bank refinancing commitments from just over a year to three years (a form of QE), which should weaken the euro if you think QE is kryptonite to currencies (I submit the record is mixed).
The jobless claims have overridden the ECB announcements in the near-term, dropping to a level not seen since September of 2008.
EUR/USD tickled stops at 1.3460 and we now trade at 1.3433.
