I've got my hand up ;-)
The bank's policy guidance is clear, we have to stick it out
ECB has made clear what it will do until the end of the year
A sustained rebound in inflation is still elusive
The real economy is doing well
Let's say the ECB arte right, this move is not coming entirely from changing ECB expectations. Some but not entire. That shows that the euro can go where it likes irrespective of what the ECB does if there's greater forces at play. As we're fond of saying, it takes two to make a market and USD is one of them.
