There goes today’s euro gains -Governing council unanimous in it’s willingness to deploy conventional and unconventional measures to effectively counter risks of very low inflation over a prolonged period -Sees no signs of deflation taking hold in eurozone but should at least be prepared for residual risks of deflation -Long term inflation expectations firmly anchored but long period of low inflation risk un-anchoring long term expectations -Looks like the market was half asleep as that headline crossed. We dropped to 1.3703 before recovering back to 1.3718. Adds; The ECB can’t perform magic on the economy -Global ... (full story)