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EUR/JPY rallies on unfulfilled ECB rumors, ECB cuts deposit rate

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - EUR/JPY broke above the 131.00 level and hit fresh 2-week highs even the European Central Bank decided to cut the deposit rate by 10 bps in a widely expected move.

    EUR/JPY shooted higher and climbed more than 150 pips to a peak of 131.77 as minutes before the ECB statement, FT reported the bank was to leave rates unchanged against expectations of a deposit rate cut. At time of writing, EUR/JPY is trading at 131.45, up 0.48% on the day.

    The ECB statement made no comments on the bond buying programme, but Draghi is due to speak at 13:30 GMT. He is expected to announce an extension of QE.
    For more information, read our latest forex news.
     

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