EUR/USD drifts to a disappointing end below 1.0900

Yesterday the EUR/USD fell back into the US close, despite the decision by the ECB to hold off on another rate cut. That was the expected outcome and the later comments from the ECB boss, Christine Lagarde did not help it much either. The ECB has left the door open to another cut in September. So, the upshot of that has pushed the Euro lower, but as with the GBP/USD, the rebound in the USD/JPY later yesterday afternoon is probably the real driver behind the falls below the 1.09 handle. The failure to get above 1.0950 this week (1.0948 the high so far) has not helped much either. So, the EUR/USD closed in the US last night at 1.0897. It has edged a little lower so far today. The low seen so far has been set at 1.0884 and it is currently trading at 1.0886