Euro sinks as Draghi suggests action at next ECB meeting

Peter Spence
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Signs of action from the European Central Bank has whacked the euro.

President Mario Draghi has said that the central bank could act at its next meeting, in June, and it's whalloped the currency.

Draghi's wording: "The governing council is comfortable about acting next time."

The ECB is clearly aware of its inflation problem, with its headline measure currently running very low.

As Danske Bank's Owen Callan puts it, Draghi "is loading the gun. Just needs low CPI to pull the trigger." The euro is now trading below $1.39, after the ECB decided to make no changes to policy.