POMO Shows ECB Who's In Charge

The ECB tried to “do whatever it takes” this morning by floating QE rumors (Constancio – QE is a possibility but not discussed in any detail) with the endgame being a weaker EUR (since a stronger EUR has crushed Eurozone corporate earnings). But, the Fed was having none of that, and as POMO started it dominated the ECB’s “weak” kung-fu, ramping stocks and EURUSD to new highs… as we chronicled on Twitter… banging EURJPY (the all-important carry driver of all thinsg risk) to new 4-year highs).


Still think it’s about fundamentals?




Which all lifted EURJPY to new 4-year highs…


As EURUSD was dominated by POMO…


via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/JrZMx51iXOk/story01.htm Tyler Durden

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