Euro gains slightly – investors are waiting for ECB decision

Euro and dollar bills

The majority of global transactions are processed in these two currencies.


(Photo: Reuters)

Frankfurt The euro rose a little on Thursday. However, before the monetary policy decisions of the European Central Bank (ECB), the price movement was limited. The common currency was trading at $ 1.2093 on Thursday morning, a little higher than the previous evening. The ECB last set the reference rate on Wednesday afternoon at $ 1.2109.

In the foreign exchange market, investors look to the decisions of the ECB, which are expected in the early afternoon. According to the unanimous assessment of economists, the central bank should loosen its monetary policy further and turn several screws in the fight against the consequences of the second wave of the corona pandemic. Among other things, an expansion in bond purchases is expected. Central bank chief Christine Lagarde had already announced a “recalibration” of monetary policy at the interest rate meeting in October.

On the other hand, the British pound, which fell in all major currencies trading this morning, was under pressure. In the struggle for a Brexit trade pact between the EU and Great Britain, the hoped-for breakthrough at the personal top meeting of EU Commission chief Ursula von der Leyen and British Prime Minister Boris Johnson failed to materialize the evening before. Both sides have set a final deadline of Sunday evening.

More: The pound fluctuates strongly – the market is still expecting a deal

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