The underlying structural fundamentals will
continue to provide underlying dollar support
with strong support at lower levels.
The Euro was pushed lower again by reported comments from ECB member Makuch who stated that
several members were open to quantitative easing if necessary and prepared to take action. ECB
President Draghi reiterated that the bank would take all necessary measures to combat deflation if
required. Overall, there was increased speculation that the ECB was prepared to take more aggressive
action and was also looking to talk the Euro down