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8 Sep 2014
EUR/USD below 1.29, ECB's Constancio shrugged off
FXStreet (Bali) - ECB’s Constancio is crossing the wires, following an interview with CNN, in which he noted that further stimulus should not be ruled out.
Little reaction in EUR/USD, which continues trading depressed at 1.2896 after hitting yet another fresh year low at 1.2882 a few hours ago on USD broad strength. Despite the RSI remains at record lows, that continues to prove a poor indicator of a possible exhaustion in prices.
Since ECB's President Draghi mentioned the possibility of sovereign QE purchases at his last press conference, the market was not surprised by additional comments on a matter that seems to have been fairly well discounted judging by the recent sharpness in Euro declines.
Little reaction in EUR/USD, which continues trading depressed at 1.2896 after hitting yet another fresh year low at 1.2882 a few hours ago on USD broad strength. Despite the RSI remains at record lows, that continues to prove a poor indicator of a possible exhaustion in prices.
Since ECB's President Draghi mentioned the possibility of sovereign QE purchases at his last press conference, the market was not surprised by additional comments on a matter that seems to have been fairly well discounted judging by the recent sharpness in Euro declines.