Forex: EUR/USD slumps after peaking at 1.2390 on Draghi's talks

FXstreet.com (San Francisco) - The Euro is falling quickly right now against the Dollar after reaching fresh highest level since July 6 at 1.2390 on the back of rumours on Draghi to hold talks with the Bundesbank on further ECB measures.

After peaking highs, ECB's spokesman said that there is not a big deal Draghi holding meeting with council members an the EURUSD began to fall. Right now the pair is pricing at 1.2282 following a 100 pips fall in the last few minutes.

According to Bloomberg, ECB President is set to hold talks with Buba's Weidmann before council meeting on August 2 about a proposal that includes bond buying, rate cut and new LTRO.