The euro held gains after the ECB kept policy unchanged, disappointing some market participants who had bet on an easing.
Category: Features
Euro drops to two-month low against the dollar as ECB prepares market for more easing. The common currency initially rose, as the ECB kept its key benchmark rate unchanged at minus 0.40%.
Boris Johnson takes office as British prime minister. Traders are afraid of a greater risk of a no-deal Brexit under Britain’s new leader Boris Johnson as economic stress worsens.
Sterling, already trading near its lowest in two years, was little moved after Boris Johnson won the contest to be Britain’s new prime minister. Investors are still worried whether he would lead Britain towards a no-deal Brexit.
September ECB rate cut is the talk of the Forex town. Investors hope Thursday’s ECB meeting will give the clearest signal yet of likely policy easing, if not the details.