Today was an important day for the euro and sterling and markets were focused on the main risk events of the day – the Bank of England and the European Central Bank policy meetings.
Both central banks left rates interest rates on hold, at 0.5% by the BOE and 0.25% by the ECB. Mean while the ECB press conference will be in focus and will also be a key driver for the euro.
The euro dropped to a session low of $1.3542 after the rate announcement but then shot up to $1.3643 as ECB Chief Mario Draghi began speaking at 0130GMT.
Sterling remained weaker against the dollar after the BOE policy statement. The BOE also left its asset purchase program un-changed at £375billion. The GBP/USD fell to a session low of $1.6338 during the European afternoon trade, before stabilizing around $1.6350, down 0.2% since yesterday’s US session close.
The dollar was little changed against the yen, as investors are being cautious ahead of the release of a key US jobs report on Friday – the nonfarm payrolls report. The USD/JPY ended the session flat but managed to remains just above the key 102 handle.
Meanwhile, a slew of other US data due today will also be in focus, including initial jobless claims, the third revision of GDP and factory orders.
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ECB And BOE Leave Rates Unchanged, Euro Rises
Published 12/05/2013, 09:48 AM
Updated 04/25/2018, 04:40 AM
ECB And BOE Leave Rates Unchanged, Euro Rises
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