EURUSD Increases After ECB Rate Cut

[RTFX-Trading]

EURUSD Increases After ECB Rate Cut

As expected the ECB cut its refi rate by 25BP resulting in gains in EURUSD. The attention is now on Trichet’s press conference which is expected at 1430 CET, with the question being will the ECB introduce some sort of Quantitive Easing. EURUSD is now trading at 1.3370 from 1.33, EURCHF increased to 1.5175 from 1.5125 and EURGBP has now reached 0.8859 from 0.88 prior to the Monetary Policy decision.

Emman Xuereb
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