Despite the ECB's recent "stunning" rate cut, which sent the EUR modestly lower by a few hundred pips, the resultant resurge in the European currency has left the European Central Bank even more stunned: just what does it have to do to force its currency lower and boost Europe's peripheral economies, especially in a world in which every other major central banks is printing boatloads of money each and every month. We hinted at precisely what the next steps may be two days ago when in "Next From The ECB: Here Comes QE, According To BNP" we said "BNP is ultimately correct as the European experiment will require ... (full story)