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Forex pairs in this Article » (Barcelona) - Brown Brothers Harriman analysts feel that de-emphasizing the currency war talk should be euro positive (as well as yen negative) and some observers read too much into Draghi's press conference remarks last week.

They write, "He had to acknowledge the French calls for action and reassure that the ECB was closely monitoring developments. Some had thought the official pain threshold for the euro had been reached, but the G7 reaffirmation and Constancio's comments today suggest otherwise. A move now above $1.3480-$1.3520 would help lift sentiment and begin repairing the technical damage inflicted last week."
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