Euro Slightly Higher Against Dollar Ahead of ECB Meeting The euro was a tad higher against the dollar in Asian trade Thursday, with many investors sitting on the sidelines ahead of a key European Central Bank policy meeting later the day. The euro was at $1.1603, compared with $1.1588 late Wednesday in New York ahead of the ECB meeting, where the central bank is widely expected to launch a sovereign bond-purchasing program to shore up the eurozones fragile economy and boost inflation. A Wall Street Journal report said Wednesday that the ECBs Frankfurt-based executive board proposed purchasing roughly EUR50 billion ($58 billion) a month in bonds for at least a year in the move to adopt quantitative easing. The common currency fluctuated sharply following the report, briefly hitting $1.1668 overnight after initially diving in reaction to the report.
Posted on: Thu, 22 Jan 2015 08:57:58 +0000
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