If you consider what ECB President Draghi said, which sounded quite dovish, it doesn't match with the sharp rally in euro. Is this move just about portfolio flow into equities (i.e. buy euro to invest in EU markets) as it seems the institutional guys are loving EU equities given the continued expectation of quantitative easing? The yield spread doesn't seem the driver...
EU-US 2-Yr Spread Lagging Rally In EUR/USD
If you consider what ECB President Draghi said, which sounded quite dovish, it doesn't match with the sharp rally in euro.
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