Euro weakness replaced dollar weakness as the main theme in town after ECB member Praet said that the central bank "has not reached the physical lower bound" of interest rates, and is prepared to cut the deposit rate further if necessary. His remarks went some way to counter last week's press conference comment by Draghi' that he did "not anticipate" another cut. The timing also coincided with a pause in the dollar sell-off seen since Wednesday's Fed announcement and policy guidance. EUR-USD tipped some 0.5% lower to a low of 1.1256, down from yesterday's post-FOMC peak at 1.1337.
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