Euro is sold after the announcement of the ECB board. The announcement seems to have responded to the fact that no major changes have been made since last March. The purchase pace of APP is the same as the previous time, and if necessary, it is possible to resume net purchase of PEPP. In particular, there was no content that would accelerate the rate hike.
It also responded to the fact that no hawkish content was found at the Lagarde ECB Governor’s press conference. The debate on quantitative tightening is premature. EUR was disappointing and turned into a big sale.