Day: April 3, 2014

EUR/USD Down as ECB Considers QE

EUR/USD dropped today after the monetary policy meeting of the European Central Bank. The policy itself remained unchanged, but ECB President Mario Draghi said at the  press-conference after the meeting that policy makers “do not exclude further monetary policy easing” and are ready to use other “unconventional instruments” to battle the threat of deflation. (Event A on the chart.) All in all, the tone of the speech was dovish and drove the euro down. Today’s […]