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Lagarde is talking but it is not having much impact yet on the EUR/USD

The charge higher in the USD/JPY has extended close to 148 now and that has maintained pressure on the EUR/USD, notwithstanding corresponding gains in the EUR/JPY.  As covered in updates here yesterday, the EUR/USD was not able to reclaim the 1.09 handle and its 21 day moving average by the US close last night. The EUR/USD ended the US session at 1.0875. It has traded to as low as 1.0856 this morning, but it is above that low now, perhaps assisted to a small degree by comments from the ECB boss a short while ago. Christine Lagarde is trying to talk tough on ECB policy and Eurozone inflation outlook. However, and despite lifting the EUR/USD off its session lows, it has done little more than that as this stage of the day. The EUR/USD is currently trading at 1.0868

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