The euro is sliding late on Thursday morning as markets across the world wait for the European Central Bank’s latest announcement on monetary policy.
At 12:45 p.m. GMT (7:45 a.m ET) the ECB will release its latest decision on what it will do with interest rates across the continent. Markets are widely expecting a further cut, taking the bank’s base deposit rate from -0.3% to -0.4%, or potentially -0.5%.
Anticipation of the decision has sent the euro lower, and just after 11:30 a.m GMT (6:30 a.m ET) the euro is down against both the dollar and the pound. Europe’s single currency is off by 0.30% against the dollar, trading at $1.0968
Against the pound, the euro has slipped even further, with €1 currently worth £0.7719, a fall of 0.43% on the day. Here’s how that looks:
Elsewhere, European equities are in a subdued mood this morning, with no major European index moving more than 0.3%. Britain’s FTSE 100 is the biggest faller, down 0.35%, while Germany’s DAX has seen the biggest gains, up 0.25%. Equities in countries that use the euro are all in positive territory, however, the Stoxx 600 broad European index has fallen 0.04% so far on Thursday.
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