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Hardy: What we need to hear from the ECB
EURUSD could rise sharply if we hear nothing new from the European Central Bank this week, that's according to Saxo Bank's Head of FX Strategy, John Hardy. The ECB meets on Thursday and will outline its latest thoughts and policies. John says expectations from this meeting are low, but he'd be surprised if we don't get some sort of policy announcement. He says he thinks some kind of "dynamism" is on the way, especially after the euro rose steadily in the last few weeks of 2013.
Thursday's meeting is a "key test" for the ECB, according to John. If there's more of the same then it could bring extra stress for countries in southern Europe in particular. A high euro is not doing them, or their problems with debt, any great favours, he says.
01:54 minutes
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