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EUR Trades at Day's Lows on Report ECB Still Divided on Strategy

CROSS ASSET
  • EUR/USD trades at the day's lows following Reuters source reports citing further division among the ECB on their inflation strategy review.
  • The pair hits new lows of 1.1882, while Bund futures press higher to narrow the day's losses and approach resistance at the overnight highs of 172.18.
  • The reports cite the ECB as yet to agree on how specific their strategy approach should be on any inflation overshoot, going on to say that the ECB hope for an agreement ahead of September's decision on the PEPP asset purchase programme.
  • First support for EUR/USD undercuts at the Jun 18/21 low of 1.1848. A break through here opens 1.1837 and Apr 7 lows at 1.1795.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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