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2 May 2013

Forex: EUR/GBP wavers after ECB cuts rates

FXstreet.com (Córdoba) - The euro reacted nervously to the ECB decision to cut the rate on the main refinancing operations by 0.25% to 0.5% in May. Even though the shared currency initially weakened and fell to a 2-day low of 0.8432 versus the pound, EUR/GBP – and other EUR crosses – quickly bounced.

All eyes will now turn to ECB President Mario Draghi, who will comment on the considerations underlying these decisions at a press conference starting at 12:30GMT.

EUR/GBP is currently trading around 0.8470, virtually unchanged on the day but 20 pips higher than it was before the ECB announcement.
May 2, 2013

Forex: EUR/USD around 1.3200 after ECB

The single currency is resuming the upside towards the key resistance at 1.3200 on Thursday, after the ECB delivered a 25 bp rate cut, taking the refi rate to 0.50%, broadly in line with market ...
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May 2, 2013

Forex: EUR/CHF eyes 1.2260 after ECB delivered

The pair is now printing session highs in the vicinity of 1.2245/50 after the ECB cut the repo rate by 25 bp to 0.50%, leaving the critical deposits rate intact at 0.0% at the same time. Both...
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