The Bundesbank getting into the mix and taking points of support for the ECB possible rate decision this June as stated by ECB Mario Draghi have driven the EURUSD lower to the 1.3698 levels. Amazingly true when a possible concerted effort of talking intervention suddenly appears on the newswires. This is just the start as not often do we see that the ECB and the Bundesbank (BDB) is on the same page! Quite surprising at this time :)
As market conditions are simply ripe for such talks taking place at this crucial times. Especially when such comments came in the nick of time when the USD was nearing a critical support nearest to the 78.80 basis point which we have time and again referred to. And currently sweeping the 80.05/10 levels in both directions during the session. Closing prices for the week will play a vital key signal in relation with other reports in the market for the week. Click here to continue
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