USD/JPY slaughtered, euro dumped on crosses

From 81.49 ahead of the data, USD/JPY dumps to 80.71.

EUR/GBP has fallen off a cliff after the data with many short the pound, gunning for stops in the 1.5910 area.

Volatility is extremely high, with EUR/USD falling to 1.4205 before zooming to 1.4270 on comments from ECB’s Draghi that Italian banks will pass the stress test by a comfortable margin.

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