XE Market Analysis: Europe – Oct 27, 2017

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The euro has remained heavy in the wake of the ECB’s dovish guidance yesterday. EUR-USD clocked a fresh three-month low at 1.1624 during pre-Europe trading in Asia, bringing the cumulative decline since the central bank’s announcement to 1.6%. EUR-JPY posted an eight-day low at 132.59. Market attention today will turn to the political front in Spain, with senate in Madrid to vote on whether to trigger Article 155 of the constitution, which gives it emergency powers to ‘take over’ Catalonian institutions and police, and which is widely expected to pass.