The Euro started to fall against the US Dollar, after the ECB made an interest rate announcement on Thursday. The EUR/USD currency pair lost 0.40% or 47 base points to confirm the decline at the 1.1765 mark and fall further given the dovish stance of the Bank.
The European Central Bank held its key interest rate unchanged at 0.00%, as widely expected. The Bank also announced that it aims to start the exit from the QE program in a very cautious way, without seeing the strengthening of the Euro. Moreover, interest rate levels are unlikely to be moved until much later when the asset-buying program ends. As there was no the specific date mentioned, the rates could stay on hold at least for the year from now.
