By Christopher Romano — Dec 10 - 01:40 PM
Pair drops in Europe am, NY opens near 1.2090, slide hits 1.2081 (EBS)
Rally ensues after ECB policy moves basically meet investor expectations
Lagarde presser, downward GDP & inflation projections don't phase bulls
Lagarde mention that FX rate will be watched lead to only a small dip
EUR/USD breaks top of bull flag, trades to 1.21585 on EBS
Lift aided by equity bounce, commodity gains & EUR/JPY lift to 126.735 (EBS)
US$ bid emerges & UK PM Johnson said no deal Brexit is a strong possibility
EUR/USD dips near 1.2110 but bounces and sits near 1.2125 late in the day
ECB fails to stop EUR/USD rise, more gains likely nL1N2IQ1N1
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Source:
Refinitiv IFR Research/Market Commentary