According to ECB Watch, as cited by Reuters, Eurozone money markets are now fully pricing a rate cut by the European Central Bank (ECB) by December this year after President Draghi opened doors for rate cuts in his speech at the ECB Forum in Sintra.
Draghi’s speech: Further cuts in policy interest rates remain part of our tools
The EUR/USD pair is seen consolidating the 50-pips drop seen following Draghi’s dovish comments. The spot wavers near two-week lows of 1.1188, down -0.25% on the day.
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