Goldman: We Were Wrong On The Euro But Keep Selling

“We badly misread this meeting.” — Goldman’s euro mistake For those that missed it, yesterday the European Central Bank announced a modest cut in its deposit rate (10bps), to a historic low of minus 0.3%, and pledged to continue its €60bn-a-month bond buying programme for another six months until March 2017 “or beyond.” The market was expecting a much more aggressive package of stimulus measures from the central bank and traders were betting heavily against the euro believing it was set to fall further as the ECB adopted a more dovish stance. Goldman FX strategist Robin Brooks went so far as to say that: “…that downside…