I think it should have been a 200 300 pip drop considering the news, yes green eyed pip monster unusual for a Monday morning usually much more sedate and gentlemen like.
reading the tape this morning it was not normal action I suspect EU intervention to stop a run in light Asian session and bolster into northern hemisphere trading.
Points to note from my read
Donald Trump has finally said to the Europeans it is time to pay your own way in NATO pay up 2% fellas the American taxpayer is not carrying you anymore... (good on you Donald)
Germans are getting a touch weary over Merkel's attempts to transform Germany into a Turkish brothel so who will replace may not be so Juncker friendly if she topples hence the 200 point drop we should have seen.
Junckers and the unelected boys from Brussels have just introduced the first steps to a European army and hey presto with efficiencies we only have to stump up 1% not the 2% that NATO costs, so NATO will not be duplicated it will go along with the Americans out of the United States Of Europe.
They are trying to crunch the sensible Brits into paying an exit fee or Brexit and urging another vote to save armageddon when they have no legal obligations and the same false lies spread about armageddon if they retained the Pound Sterling and did not go over to the Euro
The UK vote for exit is going up they want it done and dusted so domestically message is building extract the digit PM May and walk away with just a WTO deal if no deal is on the table. May is not a Brexiteer.
Russia is laughing Junckers dream of a sovereign nation with a sovereign army without the Brits is a pussycat force
the Germans don't spend on military it will fall onto the French.
So a tanking Euro would not be politically advantageous right now, but who to take advantage of the situation?
Carney at the old Lady to dish out on the continent at this moment in time. Doubt that would happen with a Canadian remainer.
