The Euro lost ground against rivals and tumbled following the European Central Bank president Mario Draghi comments at the ECB Forum on Central Banking in Sintra. Draghi declared that additional stimulus is needed if the outlook doesn't improve. The latest economic data suggested that the Eurozone area is faltering. The market is now pricing in an interest rate cut in December versus March 2020 ahead of his speech.
The EURUSD plunged to $1.1187, while the European indices cheered the dovish tone, and the German DAX rallied to 12160.
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