Euro declines after ECB decision

26 Jul 2018 04:15 PM

The euro fell to a one-day low as the European Central Bank kept interest rates unchanged as expected, and investors waited to see if there were any hints of tightening monetary policy. The bank's policy is on track to end the bond buying program at the end of this year and keep interest rates as they are until the middle of next year.

EURUSD rose to a one-day high of 1.1743 before pulling back quickly during the conference at 1.1680 levels currently. The euro rose yesterday from its daily low at 1.1664 after the approval of the European Commission president and the US president to negotiate on trade.

The Japanese yen rose slightly today after news emerged that the BoJ is seeking to move to counter continuing low inflation, and discussions are under way for amendments at its meeting next week.

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