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EUR Fades, Bunds Firm on ECB Statement Tweaks

ECB

EUR fades marginally on ECB decision, with focus turning to the press conference in 15 minutes:

  • EUR/USD edges to 1.1104 before stabilising, while Bund futures see support up to new highs of 133.67
  • Some attention paid to switch in language to: "decisions will ensure that the key ECB interest rates will be set at sufficiently restrictive levels for as long as necessary" from: "decisions will ensure that the key ECB interest rates will be brought to levels sufficiently restrictive to achieve a timely return of inflation"

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