Euro Gets Slaughtered After ECB Cuts Rates (EUR/USD)

Source: FreeStockCharts.com
EUR/USD is getting slaughtered after the ECB cut rates (trading at 1.2383, -1.14%). It also broke (or pierced) through symmetrical triangle support just now. We'll see what kind of relief rally there is today. Below I quoted the ECB's rate decisions via ecb.int. E-mini S&P is up 0.18%. Interesting morning so far.

5 July 2012 - Monetary policy decisions

At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:

  1. The interest rate on the main refinancing operations of the Eurosystem will be decreased by 25 basis points to 0.75%, starting from the operation to be settled on 11 July 2012.

  2. The interest rate on the marginal lending facility will be decreased by 25 basis points to 1.50%, with effect from 11 July 2012.

  3. The interest rate on the deposit facility will be decreased by 25 basis points to 0.00%, with effect from 11 July 2012.

The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.

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