Click Now!

EUR/USD Hits 14 Month Low After Surprise ECB Action

EUR/USD Hits 14 Month Low After Surprise ECB Action

Following unexpected cuts to the European Central Bank’s main policy interest rates the EUR/USD fell 1.6% to its lowest level in 14 months, 1.2920. However, it did climb a bit before the end of the week and closed on Friday at 1.2952.

The Dollar also slid at the end of last week after the US Labor Department reported that few jobs created in August than expected. The Fed is assumed to accelerate its asset purchasing in October in favour of raising interest rates around mid-2015. However, The European Central Bank will step back and take a more measured stance on monetary policy.

As a result the EUR/USD pairing should balance out a bit over the next few days; however, Germany’s report on trade balance due Monday could make a difference.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

COMMENTS

comments

Calendar

September 2014
M T W T F S S
« Aug   Oct »
1234567
891011121314
15161718192021
22232425262728
2930  

Recent Tweets