XE Market Analysis: Asia – Oct 22, 2015

A dovish ECB press conference was the star attraction in N.Y. trade on Thursday, as chief Draghi prepared the ground for further easing, noting downside risks due to a slowing China had increased, and the Bank’s degree of policy accommodation would need to be re-examined in December, opening the door to expansion of QE. The dollar rallied broadly higher on the news, though EUR-USD was the biggest mover, falling from over 1.1310 highs to a low of 1.1119 before recovering some.