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Euro Drops 1.5% As European Central Bank Promises More Free Money

The Greek talks have stalled, England's CPI is deflating, German GDP slipped to 0.3% in Q1 and German Investor Sentiment (ZEW) dove to a five-month low, dropping over 20% in one month to 41.9. That and collapsing bond prices were the last straw for the ECB, which announced this morning they would "front-load" their $75Bn monthly bond-buying into May and June to avoid having to bother over the holidays.

Separately on Tuesday, Christian Noyer, the head of France's central bank and a member of the ECB governing council, said the ECB was ready to go further if needed to meet its inflation target. "The purchase program will continue until the end of September 2016 and beyond if we do not see a sustained adjustment in the path of inflation," he said.

Does anyone besides me think it's strange to announce more QE WHILE the markets are making record highs? Anyone? Read more