After some mis-communication in March, ECB President Mario Draghi chose his words especially carefully and stuck to his script at his post ECB press conference overnight.
Getting toward the end of the month and the end of the quarter, and given the torpor of risk assets markets of late, the return of some buying could easily have occurred. And that could well be part of the explanation for overnight moves.
The German economy is continuing to out-perform. The run of better than expected data continued, this time from the German Ifo Survey for March.
The AUD remains a tad under 0.77 this morning, in a session where there’s been some overall diminished appetite for the USD, with the Yen the strongest in the session, up 0.65% at 111.8, with gains also for the EUR, Sterling, and the Swiss Franc.