The euro keeps falling.
On Friday morning, the euro broke below 1.12 against the US dollar, a fresh 11-year low for the currency as markets continue to digest the QE announcement from the ECB made on Thursday.
Ahead of the ECB’s announcement the euro was trading at around 1.16 against the dollar, and has been on an almost unabated downward march since that announcement.
On Thursday, the ECB said it would buy €60 billion worth of bonds per month through at least September 2016 as the ECB looks to jumpstart inflation in the eurozone, which is now just a paltry 0.4% year-over-year.
Following the ECB’s announcement, the euro fell and stocks in Europe and the US rallied, and on Friday stocks in Europe were extending these gains, with the CAC in Paris up almost 2%, the DAX in Germany up 1.7%, and markets in Italy, Switzerland, and the Netherlands up better than 1%.
Here’s the big euro slide over the last day.
And the euro’s more staggering decline over the last year.