6/6/2019, 2:41 PM (Source: TeleTrader)
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Euro rises after ECB holds interest rates

The euro traded higher against other major currencies on Thursday as investors digested the European Central Bank's (ECB) decision to hold interest rates and ECB President Mario Draghi's comments on the Eurozone growth outlook.

Earlier, the ECB announced it will not change its interest rates before June 2020 and noted it will keep the current rates "as long as necessary" to bring inflation back up to the target of just under 2%. Meanwhile, Draghi noted that the ECB lowered its growth forecast for the next two years.

The euro climbed 0.60% against the dollar to sell for 1.2880 at 2:40 pm CET and gained 0.21% compared to the yen to sell for 121.9705 at 2:45 pm CET. The Eurozone currency added 0.23% against the pound to change hands for 0.8867 at 2:46 pm CET.

Breaking the News / NP