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ECB keeps driving home the same old message but EUR/USD slips

Not too long ago the minutes from the latest ECB policy meeting were released and the headlines there would seem to belie the reality. The ECB is still endorsing the prospect that further rate hikes might be required. Initially those headlines sent the EUR/USD a little higher, rising to around 1.0925, but it did not stay up there for long and since then it has drifted back underneath 1.0900. The reason for that is because not many market operators actually believe the ECB rhetoric and besides the way the economic numbers are looking  right now, another rate increase would seem unlikely for the foreseeable future. So, the EUR/USD has dropped back closer to its earlier session lows (1.0884), currently trading at 1.0899

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