Modest Steps from the ECB Cause a Collapse in the Euro

The press conference of the ECB has weakened the euro.

Economic News
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Modest Steps from the ECB Cause a Collapse in the Euro

After yesterday's press conference, the Euro shows a negative trend and reached a three-month low. The ECB has kept the value of the interest rate at a record low, and the EUR/USD pair fell to the level of 1.1625 and is currently trading around the level of 1.1640.

The core inflation rate in the eurozone shows no significant signs of growth - this was announced at the press conference by ECB President Mario Draghi. The volume of redemption of bonds, as expected, fell to 30 billion.

The dollar continues to strengthen against all major currencies. A decision of the US House of Representatives to approve the draft budget for 2018 also provided support to the growth rate of reserve currency, since it speaks of the imminent possibility of the adoption of tax reform.

For more news check here.

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