There euro came under pressure as the ECB announcement drew nearer. EUR-USD lost 94 pips from the intraday high in making the low at 1.0570. The pair has since settled around 1.0580-85. That’s a chunky move and reflects the market’s view that the ECB will leave policy on hold today and, more pertinently, that President Draghi will stamp out speculation that signs of economic improvement will lead to the central bank tapering its QE program. The drop today nearly wiped out all of yesterday’s post-U.S.