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Commenting on the European Central Bank’s decision to launch 750 billion euro emergency bond purchase scheme, policymaker Robert Holzmann said that the programme will run at least until the end of the year and continue until the crisis is over.

Holzmann further reiterated that it’s important for the ECB to use all the tools available to them. “Internationally-agreed measures like the ECB bond purchase programme are necessary and right,” Holzmann added. 

EUR/USD reaction

The EUR/USD pair, which came under strong pressure on the ECB’s announcement, was last seen trading at 1.0785, erasing 1.2% on a daily basis.