From Zero Hedge:
It was shaping up like the perfect overnight ramp following yesterday's Goldilocks election result... and then Mario Draghi opened his mouth.
|•||DRAGHI SAYS DEBT CRISIS STARTING TO HURT GERMAN ECONOMY|
|•||DRAGHI SAYS GERMAN RATES LOWER THAN THEY WOULD BE OTHERWISE|
|•||DRAGHI: CRISIS MAKING GERMAN INTEREST RATES VERY LOW|
|•||DRAGHI SAYS ECB'S OMT IS NOT DISGUISED FINANCING OF GOVERNMENTS|
End result, after surging to nearly 1.29 last night, the EURUSD plunged in minutes, and just hit 1.275, the lowest in over two months...
More on the euro: