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EUR/CHF falls below 1.0900 on ECB move

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/CHF fell sharply as the knee-jerk reaction to ECB decision to ease its monetary policy further, with the pair losing more than 80 pips and briefly dipping below the 100-day SMA.

    EUR/CHF fell to a 6-day low of 1.0890 although it managed to recover slightly over the last minutes. At time of writing, the pair is trading at 1.0922, down 0.41% on the day.

    In an unexpected move, the European Central Bank cut all three main rates and expanded the monthly amount of asset purchases to €80 billion starting in April. The ECB cut the main rate to 0.00% from 0.05%, the deposit rate to -0.40% from -0.30% and the lending facility rate to 0.25% from 0.30%. Now investors attention turns to ECB President Draghi’s press conference.
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