We knew that the ECB rate decision was going to create volatility in the fx market. We were not sure whether we could catch the movement when the announcement came out.
Instead, we did a proxy by focusing on the AUDUSD, knowing that it will also react positively if the Euro was going to strengthen and it did.
We long the AUDUSD at 1.0225 and square the position at 1.0270, the high was 1.0283. We made a trading profit of 45 bps or 0.40%.
The Panthenon Investment Group 