A mere 2 hours after Mario Draghi unleashed a slew of liquidity providing, currency-war-fighting, inflation-boosting, but not expropriating savers, policy maneuvers, EURUSD has rallied all the way back to 1.36... the level at which it traded before he dropped his tape bomb. Just as we noted in the early morning [2], absent a full-scale QE it was a disappointment for the 'priced-in' jawboning, "which means the EUR will ultimately move higher after a kneejerk lower as the market forces Super Mario to do even more next time." Sure enough, that is happening...
[3]
Charts: Bloomberg