The Euro resumed its decline against the dollar on expectation of stimulus from the ECB

The Euro resumed its decline against the dollar on expectation of stimulus from the ECB


According to trading, the Euro against the dollar fell to 1,1028 with 1,1109 dollar dollar per Euro on Thursday, having reached during the auctions the lowest level since mid-August in 1,1017 dollar to the Euro.

MOSCOW, 23 Oct. The Euro-dollar exchange rate resumed its decline on anticipation of new stimulus from the European Central Bank following statements by the ECB President Mario Draghi for the quantitative easing program, according to AFP.

As at 18.05 GMT the Euro against the dollar fell to 1,1028 with 1,1109 dollar dollar per Euro on Thursday, having reached during the auctions the lowest level since mid-August in 1,1017 dollar to the Euro. The dollar against the yen grew up to 121,05 yen per dollar with 120,69 yen per dollar at the previous closing. The dollar index (the dollar against a basket of currencies of six major U.S. trading partners) increased by 0.56% to 96,94 of the item.

At a press conference following the meeting ECB’s Draghi said that the regulator will need to revisit its monetary policy in December. He recalled that the programme of asset purchases is sufficient flexible and allows adjustments of size, composition and duration. The message from Draghi led to the fall of the European currency.

“Draghi not only met, but also exceeded the expectations of many. The risk of more monetary stimulus in the Eurozone overall negative for the Euro,” he told Reuters, senior analyst for Š”ommonwealth markets in Foreign Exchange in Washington, Einer Omer (Omer Esiner).