Euro drops as ECB extends QE

What analysts had been anticipating lately, came true. The most-traded pair on Forex slumped following the ECB interest rate decision and Mario Draghi’s comments.
The euro-dollar pair plummeted to 1.0634 from the daily peak of 1.0800. The reason behind the euro’s tumble was quite unexpected for the market.
The European Central Bank stood pat on its monetary policy, but hints about further economic stimulus in the eurozone disappointed investors. The bond-buying program was extended, confirming market concerns.
The ECB’s key interest rate was kept unchanged at the zero level. The asset-purchasing program with the same volume of 80 billion euros will run until March and then will be extended in April in the volume of 60 billion euros a month. It means the ECB is going to buy more than expected.
ECB President Mario Draghi pointed out that what is important is effectiveness and results of the taken monetary decision. The eurozone economy still suffers from downside risks. That is why the central bank intends to improve the economic situation in any possible way.

https://www.instaforex.com