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Draghi's speech not expected to focus on immediate outlook for monetary policy - RBS

FXStreet (Łódź) - Brian Daingerfield and Flavia Cattan-Naslausky, FX Trading Strategists at RBS, suggest that ECB head Mario Draghi's speech today at the Euro Conference in Vilnius, Lithuania should not provide us with projections for the central bank's moves in the nearest future.

Key quotes

"ECB President Draghi will give a keynote address at the 'Single market, Single Currency, Common Future' conference to commemorate Lithuania joining the Euro in 2015."

"The conference will be 'to discuss euro area enlargement and policy reforms that are aimed at strengthening the functioning of the single market and the EMU.'"

"President Draghi may use this occasion to repeat key refrains, such as calling the Euro irreversible and urging governments to make needed structural reforms, as he did in an interview for Europe1 this morning."

GBP/USD dived below 1.63 on broad USD strength

GBP/USD opened the trades at 1.6338, and slowly drifted lower, until Europe came, and send the pair below 1.63; it is currently trading at 1.6280.
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Andrew Nyquist: Dollar rally is like a rubber band - FXStreet

In an interview with Dale Pinkert at FXStreet’s Live Analysis Room, Andrew Nyquist, founder of See It Market, likens the current dollar rally to a rubber band, which can either continue stretching or to can break.
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