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Euro dollar is moving higher after the ECB refrained from a 50bp cut and from a negative deposit rate.

The pair is rising towards 1.32. The cut of the marginal rate from 1.50 to 1.00 does not move the markets.

Mario Draghi is up next at 12:30 GMT explaining the decision. Follow a live blog of the press conference.

Update: Draghi hints about setting negative deposit rates, EUR/USD crashes.

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