The euro saw volatile trading yesterday on the ECB decision. The Bank kept rates unchanged but paved the way for new easing measures. The euro slid on the statement, but rebounded later and was found higher against all the other G10s this morning. As for today, attention is likely to turn to the 1st estimate of the US GDP as investors prepare for next week’s FOMC decision.
EUR Trades in a Roller-coaster Manner on ECB Decision
The US dollar traded higher against all but one of the other G10 currencies on Thursday and during the Asian morning Friday. It gained the most against NZD, CHF and AUD in that order, while it was found slightly lower only against EUR.
The common currency was the main winner among the G10s, but its ride was anything but smooth. It rather traded in a roller-coaster mode and responsible for that was the ECB. Yesterday, the Bank decided to...
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