Euro plunges on dovish ECB twist


In a surprising development, the European Central Bank has rocked financial markets by announcing that it will end its QE program by the end of this year.

One would have expected the Euro to aggressively appreciate following this historical decision, but the currency has collapsed like a house of cards with prices tumbling over 160 pips. The central bank will halve the size of monthly asset purchases from €30bn in September to €15bn from October to the end of the year. There is a possibility that the culprit behind the Euro’s selloff could be the fact that the ECB pledged to keep… Read More

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