ECB Considering Setting Yield Band Targets Under New Program
Reuters headline Citing central bank sources. Expect a denial via Bloomberg in 20-30 minutes… There have been rumors since the Draghi press conference that the ECB could set a target for yields spreads over the benchmark German bund, so this is merely a rehash. The move above 1.2525 takes the immediate downside pressure off of EUR/USD and strengthens the support at 1.2480/90. 1.2590/95 is resistance, the later level the 38.2% of the drop from 1.3487.