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Modest bounce seen in USD post-ECB - Societe Generale

FXStreet (Łódź) - Kit Juckes, Global Head of Currency Strategy at Societe Generale comment's on yesterday's USD move following the ECB monetary policy announcement.

Key Quotes

"The ECB came, disappointed, and went. The market chat is all about how Mr Draghi is backing off from commitments to specific targets for ABS purchases and downplaying the idea of boosting the balance sheet by any specific amout, too."

"In the convoluted logic of the FX market inability to do anything very much to prevent the European economy from drowning in a stagnant, ornamental Japanese pond, helped the dollar bounce marginally."

"The bounce, like all the bounces before it in this move, is modest."

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