Due to the approaching ECB meeting, market participants on Monday began to reassess the open positions in their portfolio. After the ECB’s Ewald Nowotny made some remarks last week, traders began shedding euros and Swiss francs. They are temporarily transferring funds into British pounds and commodity currencies. Traders are worried that on Thursday the ECB could undertake additional measures with regards to the current QE program.
Source:: Euro Being Sold Before ECB Convenes