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Draghi’s Euro Warning Seen as Cheap Talk by Traders: Currencies

For currency traders, talk is cheap, even when the person speaking is the president of the European Central Bank.

Mario Draghi’s suggestion this weekend that the ECB may ease policy to address the euro’s advance marked a strengthening of a position he’s been setting out for weeks. Yet the 18-nation currency has shrugged off his repeated comments and climbed since the beginning of March, while options traders are about the least bearish on the euro since November 2009.