FXstreet.com (Barcelona) - The Euro continues depreciating as investors expect a rate cut by the ECB to be announced at 12.45 GMT, the Euro has lost around 100 pips already on its setback from 1.2660.

At the moment the EUR/USD is testing support level at 1.2550, and if this level breaks 1.2515 support level will come into play, once below there, 3-month low at 1.2460 would be exposed.

EUR/JPY is also weakening ahead of the ECB monetary policy decision, after having reached 125.78, the pair is dropping to 124.80 so far on its way to support level at 1.2420.