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Draghi Doesn’t Deliver – EUR/USD shoots higher

Big upset: no new QE, extension of the program to March 2017 and and re-investing of proceeds. The ECB will also buy municipal bonds. Expectations stood on a rise of 10 to 20 billion. Re-investing proceeds does not get close to that.

EUR/USD shoots to a new high of 1.0810. Update: 1.0890.

Inflation expectations were left unchanged for 2016 at 1%.

Earlier, Draghi under-delivered by cutting the  deposit rate by only 10 basis points to -0.30%. This sent EUR/USD rallying all the way to 1.0740 before the pair fell back to  a higher range.

EURUSD shoots higher Draghi disappointment December 3 2015

— more coming

ECB  Decision – All the Updates

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.