Flash: EUR traded a new high- BBH

FXstreet.com (London) - Strategists at TD Securities noted that euro traded briefly at a new high for this move near $1.3770, but retreated ahead of ECB President Draghi’s speech today.

“We doubt that Draghi will reveal anything that he didn’t choose to at last week’s ECB meeting”.

“In the absence of some sort of dovish surprise from Draghi, markets appear likely to soon challenge the October 25 high near $1.3830”.

“While the ECB has largely refrained from commenting on the exchange rate, we do not think policymakers can be very happy with an approach of $1.40”.