It’s confirmed: the European Central Bank (ECB) can “walk the walk and talk the talk” after all. Euro policymakers have stopped at nothing, and have finally decided to throw everything, including the kitchen sink, at the region’s twin potent risks of deflation and tepid growth. What the market heard from President Mario Draghi was certainly more dovish than anticipated; however, the squeeze on the EUR higher has been an even bigger surprise and the most painful. The EUR bear will be looking to this morning’s U.S. nonfarm payrolls (NFP) report as a lifeline. A strong jobs report will give credence to the Federal Reserve’s tapering endgame and naturally weigh on the EUR through interest rate differentials.