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Euro trashed on ECB hike delays
There have been some big FX moves overnight centred around the Euro and the USD in the wake of the Fed announcements yesterday coming with a hawkish leaning, followed overnight with the formal (and expected) ending of ECB’s Asset Purchase Program (APP), but pushing out expectations of when rates might be first adjusted and laced with “uncertainty” caveats from the ECB President Draghi. After making some modest gains to around 1.1825, the Euro was sold aggressively lower, smashing though 1.18 and 1.17, continuing to lose ground, sitting currently at the overnight lows below 1.1580. Among the other non-USD ... (full story)