G10 FX had a rollercoaster start to the.......>

FOREX: G10 FX had a rollercoaster start to the session. The ECB's announcement

of a new EUR750bn asset purchase programme & its "whatever it takes" rhetoric

allowed risk to have some brief relief. EUR/USD jumped in the immediate

reaction, but has erased gains since as USD remains well bid. USD/JPY crept

higher after the ECB statement, extending gains over the Tokyo fix. The

Antipodeans have tumbled amid expectations that the Antipodean banks may soon

launch QE programme. AUD/USD printed worst levels since 2003, with the RBA set

to announce its next policy steps later today. NZD is the worst performer in the

G10 FX space & NZD/USD hit a new 11-year low, with the RBNZ reminding that it's

monitoring mkt developments. GBP also fares badly, cable has slid under $1.15. 

- The yuan is pretty stable after the PBoC set its central USD/CNY mid-point at

the highest lvl since Oct 2019. USD/KRW has skyrocketed to best lvls since 2010,

although dealers speaking to RTRS suspected that local authorities have been

selling USD. IDR is also offered, even as BI said it is stepping in.

- Flash German Ifo Survey & the RBA's MonPol announcement take focus from here.

Central banks in Indonesia, Taiwan & the Philippines also decide on rates.