The Euro was unsettled initially by much weaker than expected flash PMI data from France. Further currency damage was avoided by a stronger than expected reading for Germany with a four-month peak, but underlying concerns persisted with important vulnerability outside Germany.
ECB President Draghi also remained very cautious surrounding the Euro-zone outlook in a speech on Thursday. There were, however, also comments from Draghi that markets should not try to infer negative deposit rates and that there had been no further developments since the latest council meeting.
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