5 Mar 2015
EUR/USD hits fresh 11-year lows after short-lived spike
FXStreet (Córdoba) - EUR/USD surrendered its short-lived gains and fell to fresh 11-year lows after ECB President Draghi said the bank is willing to buy negative-yielding bonds. Draghi said bond yields could fall down to the ECB deposit rate, which is -0.2%.
Speaking at a conference following ECB monetary policy meeting, Draghi said the sovereign bond purchases will start on March 9, and they will be conducted at least until September 2016. The technical details of the QE program will be published at 14:30 GMT.
EUR/USD initially spiked to a daily high of 1.1114 as investors welcomed upbeat assessments of the Eurozone economy, but quickly gave up gains and fell to its lowest level since Sep 2003 at 1.1006. At time of writing, the pair is trading at 1.1010, recording a % loss on the day.
Speaking at a conference following ECB monetary policy meeting, Draghi said the sovereign bond purchases will start on March 9, and they will be conducted at least until September 2016. The technical details of the QE program will be published at 14:30 GMT.
EUR/USD initially spiked to a daily high of 1.1114 as investors welcomed upbeat assessments of the Eurozone economy, but quickly gave up gains and fell to its lowest level since Sep 2003 at 1.1006. At time of writing, the pair is trading at 1.1010, recording a % loss on the day.