Euro Rises as ECB Drops Pledge to Extend QE
Investing.com - The euro rose across the board on Thursday after the European Central Bank dropped its pledge to expand its quantitative easing bond purchasing stimulus program, in a more hawkish rate statement than expected.
EUR/USD was trading at 1.2421 by 08:14 AM ET (13:14 AM GMT), up from around 1.2372 earlier.
The euro gained ground after the ECB dropped a pledge to extend its stimulus program, if the euro zone economic outlook were to deteriorate, in a sign that it is moving closer to ending its massive easing program.
The central bank also left euro zone interest rates unchanged at a record low of zero, as expected.
The euro was also higher against the yen and the pound, with EUR/JPY advancing to 1.2417 from an intra-day low of 1.2369 and EUR/GBP up 0.13% to 0.8942 from 0.8917 earlier.
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