Mario Draghi is at it again!! Immediately after a short remark from ECB president Mario Draghi, the EUR took a full U-Turn on Thursday starting from 1.10 to 1.08. It later reverse to 1.10. The European bond yields also took a small drop down and increased again. All this rush and hush was a result of Just one Statement made by Draghi, as he stated that â€œHe does not look forward to further interest rate cutsâ€. Expectedly, there was a rush to cover shorts due to the fact that the ECB president is sure that interest rates will remain low for a long time. Could this be a Communication Error? Well, time will tell. The EUR rose to 1.08 against the dollar for a while and increased further to 1.12. And against the Yen, the EUR was aggressively 126.33 higher. These are significant increase and a powerful display by the EUR. However, when all settles down, we should expect the EUR to go lower because the Market Direction before todayâ€™s meeting was far less bearish for the EUR.