The Currency Scene:
News, Events, and Stories about currency from around the world.

Talking Points:

- This morning’s ECB rate decision saw the bank take a dovish tone while making no adjustements to monetary policy, both as was widely-expected. This helped to elicit a quick dip in the single currency, but that sell-off was limited as a bounce began to show shortly after the start of the press conference.

- This raises the question of whether Euro[1] weakness will extend. While many were expecting a dovish tilt at this morning’s rate decision, the fact that weakness could not show more momentum may be a signal that EUR/USD[2] is being driven by USD-trends; while a pair like EUR/JPY[3] might be a bit more attractive for a fade of this morning’s quick-dip of weakness.

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ECB Goes Dovish – EUR/USD Puts in a Bounce

This morning’s ECB rate decision saw no move on rates as was widely expected. We did see ECB President Mario Draghi take a dovish tone, again, as was widely expected[8]. And in response we saw an initial move of weakness in the single currency; but that momentum could not hold and we’re already seeing bounces starting to show. The key signal of

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The Logo Story

currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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