The EUR/USD fell below 1.25 ahead of the ECB interest rate meeting, and accelerated after the expected rate cut and Mario Draghi’s press conference. It plummeted below 1.24 after the opening bell in the 7/5 US session.The decision to cut the benchmark rate to 0.75% from 1.0% brings it to a historic low. Also The deposit rate was cut to 0. Draghi sounded dovish during the press conference, as if leaving open another rate cut down the line this year. The break below 1.24 opens up June’s low of 1.2285, established on June 1. This might provide some support ahead of tomorrow’s event risk in the US non-farm payroll ... (full story)