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EUR/USD Profits Locked before Draghi's Speech! Draghi Signalled the End of Rate Cuts

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The ECB surpassed expectations on Thursday by cutting the overnight rate to zero from 0.05% as well as the deposit rate by 10 basis points to ‐0.4% — the rate used by banks to borrow from the ECB overnight. The shared currency tumbled sharply to 1.0822 versus the U.S. dollar after the announcement but recovered all the losses and gained a lot more during Mario Draghi’s press conference. The ECB President announced the expansion of the QE asset buying programme to 80 billion euros from 60

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