zerohedge.com / By Tyler Durden / February 8, 2013
With EURUSD having lost over 2 handles since Draghi began to speak at the press conference, we thought it worth examining just what he did (and did not) say. As Citi’s Steven Englander notes, for the ECB it was a twofer. They can claim they are not engaging in currency wars while giving a big wink and nod on monetary policy ease that says ‘sell my currency’. Yesterday when they said they were not too worried about currency, they didn’t mention that they would sound very dovish on liquidity and monetary policy and stress the EUR’s level as a factor in inflation and economic forecasts. So while they did not do the currency war thing, they did the next best thing.