Draghi's Surprise Gift For Markets Cannot End The Euro's Woes — forbes.com

Yesterday was ECB President Mario Draghi’s birthday, but today he unveiled another gift for markets. As I predicted, the ECB today announced a further rate cut and unveiled a broad purchase programme of private sector assets – asset backed securities (ABS) and covered bonds (CB) in this case. However, the move certainly seemed to surprise markets. The EUR/USD broke through recent lows and tested the 1.30 level off the back of the rate cut, although it eventually stabilised around this level despite Draghi’s quite dovish press conference.

Read More