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The ECB did quite a lot in terms of new stimulus, with moves ranging from the expected ones such as deposit rate cut through significant beats of expectations (33$ more QE) to big surprises such as cutting the main lending rate. All this was enough for a 150 pip fall in the euro but it all turned around with a 300 pip rally from the bottom. We talk about the decisions, the developments and the levels in the euro. In addition there is a short preview to the upcoming events.