Super Mario’s stimulus disappoints Euro currency surges

ECB President Mario Draghi expanded monetary stimulus but its markets wanted more and a lot more. The ECB dropped an already negative deposit rate further by -10 basis points and extended its QE program until March 2017, but it was less than expectations.

"European equity markets fell hard in reaction but the big news was the surge in the Euro/USD to 1.08 from 1.05 which, in currency terms, is an explosive move. The Fed does not want a runaway dollar and this likely helps the Federal Reserve's case for raising rates later this month", notes Voya Global.