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EUR/GBP joins the global decline of the euro

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 26, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    ECB and PBOC fuel dollar rebound On Thursday and on Friday, the ECB and the PBOC were the trendsetters for trading. On Thursday, the ECB almost pre-announced a further easing in policy at the December meeting, pushing the euro off a cliff. On Friday, the PBOC also reduced its policy rate and the reserve requirement ratio for banks. This additional easing reinforced the risk-on sentiment and supported further USD gains. EUR/USD tested the 1.10 barrier and closed the week at 1.1018. USD/JPY

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