The drop through 1.3700 just now has been credited to an article in the Spanish press stating that the ECB will be cutting the deposit rate to -0.25%. The article is here and I’ve read it through google translate and there’s no actual quotes from anyone. It seems like just some rehashing of the stories doing the rounds over the last couple of days. Any one who speaks Spanish and can see something different please feel free to let us know. (full story)