The pair opened this morning at $1.2375 after it crumbled to a $1.2364 low during the US/European session overnight following comments from ECB President Mario Darghi. In his remarks following the ECB rate decision, Draghi left the market in little doubt as to who was in charge and officially announced that would boost the balance sheet to 2012 levels and the GC had tasked staff and committees with timely preparation of further measures to be implemented, if necessary. Euro-dollar saw a mild recovery in early dealings to $1.2383 but weakness resumed after that and it reversed to $1.2370. Euro-dollar bounced a few more times through the morning, but gains were also capped at $1.2386 as the market looked ahead to tonight’s key US non-farm payrolls data. Euro-dollar was last at $1.2381, with a move through last night’s $1.2364 US session low likely to see the pair take on reported demand just below at $1.2350.
