Having voiced his "serious concern" about a strong foreign exchange rate and low inflation, Mario Draghi came over the top with yet another resounding promise of action... *DRAGHI SAYS ECB IS COMFORTABLE WITH ACTING IN JUNE IF NEEDED This was enough to send the EUR tumbling down from near 1.40 levels (which it hit as traders saw no actual actions) and spark a renaissance in risk-on assets... always the promises... The question - of course - is how long the half-life of this jawbone lasts? (full story)