Global central banks are ‘welcoming’ the action taken by the ECB, highlighting that there is little push back to the aggressive policy, partially aimed at EUR depreciation. Into today’s open better than expected UK retail sales, Chinese and European PMI are being ignored in favour of the broader USD move higher. U.S. data is limited, with the Chicago Fed and existing home sales; accordingly positioning on the back of this week’s events continues to be the main market theme.
Read the full report: FX Daily