Wednesday, October 24, 2018

Euro slides after ECB tapers quantitative easingEuro slides after ECB tapers quantitative easing – The Euro slumped against the dollar on Thursday after the European Central Bank said it would slow down its asset purchasing program in January.

EUR/USD tumbled 0.42% to 1.1762 as of 7:55 AM ET (12:55 PM GMT) right after the decision was announced.

The ECB will reduce monthly purchases from the current €60 billion ($70.6 billion) to €30 billion ($35.3 billion) and will extend those purchases to “the end of September 2018, or beyond, if necessary”.

The central bank also left the benchmark interest rate unchanged at 0.0%

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