European Central Bank Press Conference
Claude Trcihet failed to make any hawkish comments, describing current interest rates as "appropriate". It was his use of this word that sparked the Euro sell off.
The statement was very unclear on the ECB's intentions, neither confirming nor denying that rates will rise in the near term. The market was expecting a firm indication of higher rates ahead, thus the current Euro slump!
Posted at: 14:26
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