The euro is getting crushed
The euro is sliding against the US dollar.
On Thursday morning, the European Central Bank released its latest monetary-policy statement, leaving its deposit rate unchanged as expected, at -0.30%. Last month, the ECB lowered the rate.
After ECB president Mario Draghi started his press conference to explain the latest decision, the euro dived against the dollar, falling to as low as 1.0790. Comparatively, it's the lowest level in about two weeks.
Draghi noted that "downside risks have increased again", referring to the slump in commodity prices and weaknesses in emerging markets. He also said he expects inflation to remain low for the first half of the year, to pick up near the end of 2016.
Overall, it's a dovish tone that suggests rates are going to stay low for a while, and more policy stimulus may be on the way. We're covering the very latest on Draghi's remarks here.
Investing.com