The logged fresh lows in Asia before settling during in London trading. EUR-USD logged a 37-month high of 1.2459, extending the rally seen this week from the low 1.2200s, before settling in the lower 1.2400s into the ECB announcement. ECB policy is in sharp focus with market participants looking for further confirmation that the central bank is on course for QE tapering, though what tempering impact on hawkish impulses may have been caused by the magnitude of recent euro gains could prove to be a key driver for forex markets today.
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