Euro drops on unexpected ECB decision to cut interest rate

Source: Bloomberg
The European currency depreciated 1.1% to $1.3369 as of 2:50 p.m. in London, after it touched $1.3269, the seven-week low, as European Central Bank unexpectedly decided to cut its interest rate at the record low of 0.25% explaining such a decision as a measure to support economic growth in Eurozone. The Euro slipped 0.5% to 132.66 Yen and sank 0.7% to 83.41 pence.
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Thu, 07 Nov 2013 17:30:13 GMT

Canada's currency decreased after U.S. economy report and ECB low rate policy decision

The so-called loonie weakened as U.S. reported greater economic expansion than expected, while European Central Bank took a surprising decision today in Frankfurt to cut its main refinancing interest rate to a record-low 0.25%. ECB believe that this measure should boost economic growth in Euroznoe. The Canadian currency sank 0.3% to C$1.0444 per greenback as of 9:22 a.m. in Toronto

Thu, 07 Nov 2013 16:18:11 GMT

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