Eur/Gbp moves as the cross rebounds from circa 0.8830 along...

Eur/Gbp moves as the cross rebounds from circa 0.8830 along with Eur/Usd and Eur/Jpy. All eyeing monetary policy meetings for some independent inspiration and impetus away from the overall risk tone and Dollar, and all gleaning something positive even though the ECB, Norges Bank, CBRT and SARB stood pat, as widely if not quite unanimously expected. The Euro topped 1.2170 after the removal of exchange rate monitoring from the official statement, but briefly retreated through 1.2150 when President Lagarde reiterated that currency moves are still being monitored carefully in the press conference and that economic risks for the Eurozone remain tilted to the downside, albeit not as pronounced as they were deemed to be in December. Meanwhile, the Norwegian Crown extended gains beyond 10.2150 vs the Euro at one stage following an almost repeat assessment and forward guidance from the Norges Bank that also noted the increase in crude prices since the last convene and the fact that the Nok has appreciated more envisaged. Elsewhere, the Turkish Lira knee-jerked lower as around 25% of surveyed economists were looking for a hike ranging between 50-100 bp, but initial losses were quickly erased and reversed on the basis that a firm tightening bias was maintained and commitment to drive inflation permanently lower before loosening the reins