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EUR/USD begins to edge higher as Lagarde talks
The initial reaction to the ECB rate cut did place some modest downside pressure on the EUR/USD. That delivered a slight dip to below 1.1340, but as Christine Lagarde debriefs the press right now, the EUR/USD has come off the lows and it is pressing higher. The USD/JPY is lower too and falling back towards 142.25. The US data surely helped that move. The EUR/USD is now moving higher and rising above 1.1375 a moment ago. So, is it a case of what cannot go down has to go higher? It looks that way right now, but we shall have to see, if this delivers a more meaningful rise back above 1.1400. The EUR/USD is right now at 1.1370
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