The euro has been in correction mode, sinking to a 1.1080 low before steadying around 1.1100, putting in some distance from yesterday's post-ECB peak at 1.1218. This came as investors and traders reappraised the ECB's bazooka stimulus package, downplaying Draghi's reckoning that there may not be another rate cut. For some analysts Draghi's remark has been taken as signalling that the limit of NIRP has been reached, but for others it was simply a communication misfire, similar to December's blunder.
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