That ‘Throw Away Line’ Was Not, In Fact, A ‘Throw Away Line’

Thank you, Richard Breslow. The (sometimes angry) former FX trader whose commentary we regularly excerpt in these pages is out on Friday with his take on Mario Draghi's opening remarks at Thursday's post-ECB-decision presser and they reinforce exactly what we said as the euro began to soar.  Recall this from our on-the-fly take: Here’s the euro, and again, the reaction to the policy statement was muted, but the move higher around the  opening remarks is, well, remarkable: That’s prett