(MENAFN– ecpulse)
The euro fell to two year lows against the US dollar on Wednesday, ahead of the outcome of Thursday’s European Central Bank (ECB) meeting.
The euro continues to decline due to the increasing pressure after ECB’s president Mario Draghi assured that the bank will face the weak euro zone economy.
Investors are looking ahead to the meeting result and the possibility of additional stimulus measures (quantitative easing) on Thursday, to counter the negative performance of the euro zone economy and raise inflation to the bank’s target 2%.
The euro remains within the downtrend on Wednesday and could extend its decline against the dollar tomorrow, if the ECB decided to add further stimulus measures.
EUR/USD pair dropped 0.32% at 09:12 GMT around 1.2338, compared to the entry levels 1.2381.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.