Be Wary of This Euro/Dollar Rally
By all counts, the latest European Central Bank monetary policy announcement was a disappointment. Interest rates were left unchanged, and the ECB introduced a whole new set of acronyms that sounded glamorous on paper but were lacking in pizazz.
Few experts will argue against the fact that the ECB could have done more, making small tweaks to its announcement that could have made its new program more impressive. Even an interest rate cut would have shown more resolve. Yet the ECB's failure to impress did not stop the euro from rising against the dollar. The euro had fallen initially after ECB President Mario Draghi laid out the terms of the bond purchase program, but as the day the progressed, the euro recaptured all of its losses to trade at its highest level in more than two months against the U.S. dollar....379 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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