The dual themes of dollar weakness and euro strength persisted, propelling EUR-USD to a 15-week peak at 1.1169. The pairing has been a central conduit of dollar selling since yesterday, as this pair had been a prime short vehicle during past phases of euro underperformance. The catalyst was yesterday's rethink in Fed policy expectations, which has narrowed the perceived divergence between the ECB and Fed stances. While ECB president Draghi made pretty dovish remarks today, he lacked clarity with regard to possible further easing measures.
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