6/14/2018, 2:04 PM (Source: TeleTrader)
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Euro moderately weakens as ECB avoids ending QE

The joint currency of 19 European countries surrendered early gains on Thursday after policymakers from the European Central Bank decided to halve the volume of bond purchases to run at €15 billion until the end of the year after the current program expires in September. They also vowed to keep interest rates unchanged through the summer of next year, leaving market participants waiting for President Mario Draghi's press conference. Investors are looking for more detailed cues about the trajectory of inflation and economic growth and why quantitative easing wasn't scheduled to be wrapped up without extension.

The euro declined 0.54% at 2:04 pm CET, changing hands for $1.1728, and dropped 0.72% to ¥129.181. The levels earlier went to as high as $1.18516, the highest since May 16, and ¥130.3595, unseen since May 23.

The exchange rate versus the Swiss franc weakened 0.28% for the day, to 1.11588. The currency of the monetary union fell 0.64% to £0.87608.

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