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Euro crushed under Draghi’s wheels — #SaxoStrats
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European Central Bank chief Mario Draghi surprised markets by scaling back the Eurozone’s QE programme, says Saxo Bank’s head of FX John Hardy.
The pace of asset purchases were slowed from €80 billion a month €60 billion a month while interest rates were left unchanged by the ECB.
Hardy also looks ahead to next week’s FOMC meeting in the US.