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Forex: EUR/JPY loses 130.00 handle as Draghi "threats" more easing

FXstreet.com (Barcelona) - ECB Draghi’s speech triggered the tumble of the euro today, affecting the EUR/JPY performance as it fell from 130.20 area down below the 130.00 mark. The cross is currently at 129.70 (-0.18% on the day) lows as the President of the European Central Bank said they’re ready to act again, following last week’s 25bp refi rate cut to 0.50%.

Draghi’s comments in Rome include advices to governments, defending tax reduction as priority and more equal wealth distribution in the Eurozone to improve economic performance. However, budget consolidations remains imperative, particularly for the most indebted countries.

“Were it to stay below the 130.73 April 22 high, downside corrective risk would remain in play and allow for further losses and a slide back to the 125.00, the low from mid-April, to be seen”, wrote Commerzbank analyst Karen Jones, more biased to a rise to 131.12 April peak and the slightly longer term target at 136.71.

Forex: EUR/USD tumbles below 1.310 on ECB’s Draghi

The pair had been sidelined since mid-European session, ranging at 1.3100/15 most of the time, but suddenly, the EUR/USD took a dive and is plunging below the 1.3100 handle. The fall has reached 1.3067 low, so far, and came in reaction to ECB Draghi’s speech. The head of the central bank said they are ready to act again, following last week’s 25bp refi rate cut to 0.50%.
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Forex: USD/CAD remains rangebound below 1.0100

The USD/CAD remained little changed as the US dollar failed to benefit from much-weaker-than-expected Canadian Ivey PMI. The indicator came in at 52.2 (seasonally adjusted) against the 58.3 expected.
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