Asian Session – Euro drops below 1.20 in dramatic fashion; dollar strongest since 2009
Posted on January 5, 2015 at 8:43 am GMTThe euro posted severe losses during Monday’s Asian session – falling to as low as 1.1859 after breaching the key psychological 1.20 support. This was the lowest for the euro since 2006. The euro’s losses were attributed to Draghi’s newspaper interview on Friday, in which he stated his concern about deflation in the Eurozone and hinted at the prospect of action from the ECB. Such action would probably involve government bond purchases. In addition, the euro was hurt by the prospect that an [..]