21 Jan 2015
EUR/USD back around 1.1600 after ECB reports
FXStreet (Córdoba) - The euro moved erratically in a wider range at the beginning of the New York session as a supposed plan from ECB for QE was leaked through media a day before the official announcement.
Citing people familiar with the matter, media reported a proposal from ECB executive board for a bond-buying program of about €50 billion a month that would last at least one year and it will begin in March.
Investors’ reaction was mixed, with EUR/USD initially falling to 1.1565 and then rising to fresh daily highs at the 1.1680 area. EUR/USD has finally, at least temporarily, steadied around the 1.16 mark and it is currently trading at the 1.1605 area, recording a 0.5% gain on the day.
Citing people familiar with the matter, media reported a proposal from ECB executive board for a bond-buying program of about €50 billion a month that would last at least one year and it will begin in March.
Investors’ reaction was mixed, with EUR/USD initially falling to 1.1565 and then rising to fresh daily highs at the 1.1680 area. EUR/USD has finally, at least temporarily, steadied around the 1.16 mark and it is currently trading at the 1.1605 area, recording a 0.5% gain on the day.