I'm not so sure that negative rates are really suitable to keep a distinct distance to the cap or even to increase EC long term. I can imagine that it will be in a narrow corridor above the cap for a longer time. So we have to be patient.
The question from my last post was a bit stupid. As molloy wrote in his post the same happened also to me, FXCM EC prices were already below 1,20 and not all trades of Z4/Z5 were closed. So there is no automatism, thanks for clarifying! laugh