They already took the wrong direction twice, and now they recommend adding to losses. Strange tactic :-)
Will The ECB's TLTRO Plan Push The Euro Lower?
The USD Index gained close to 7% during the calendar year 2018. Considering that the EUR/USD has a 57.6% weighting in the Index, itís not surprising that single currency lost over 6% versus the Greenback during the same period of time. Forex traders were drawn to the USD as the US Federal Reserve (FED) raised the FED Funds target by 100 basis points last year and gave forward guidance for more tightening into 2019. Furthermore, while the European Central Bank (ECB) added Ä600 billion to their balance sheet last year, the FED drained $400 billion from the global banking system. This divergence in monetary policy ... (full story)