EUR Tumbles on Interest Rate Decision

03 July 2009 @ 08:33 am EDT

The common European currency weakened against the U.S Dollar and Yen yesterday after the European Central Bank (ECB) kept its benchmark Interest Rate unchanged at 1% as expected. The ECB also stuck with the amount of covered bond purchases in its plan. The EUR declined amid speculation that ECB policy makers will say today that they don't see a need for additional measures to revive the Euro-Zone economy.

For more forex information, go to www.forexyard.com

E-Newsletters

We value your privacy. Your email address will not be shared.