Euro Jumps as ECB Makes No Move

The euro climbed today after the European Central Bank refrained from expanding stimulus just yet. The currency came off its highs but remains far above the Thursday’s opening as of now.
ECB President Mario Draghi said in his speech after the policy decision:

Based on our regular economic and monetary analyses, and in line with our forward guidance, we decided to keep the key ECB interest rates unchanged.

The shared 18-nation currency rallied after the announcement. Absence of extra stimulus relieved some pressure from the euro. This does not necessarily mean that the currency will rally now. Draghi remained committed to spurring inflation by any means necessary and signaled that he may act next month:

Should it become necessary to further address risks of too prolonged a period of low inflation, the Governing Council remains unanimous in its commitment to using additional unconventional instruments within its mandate. This would imply altering early next year the size, pace and composition of our measures.

Indeed, some analysts think that the current rise of the euro is a selling opportunity.
EUR/USD rallied from 1.2310 to 1.2456 before trading at 1.2385 as of 23:32 GMT today. EUR/GBP climbed from 0.7847 to 0.7900, touching the high of 0.7922 intraday. EUR/JPY advanced from 147.46 to 148.43, and its daily high was at 148.95.

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