Euro rises as ECB leaves policy unchanged


NEW YORK (AFP) – The euro rose slightly against the dollar on Thursday as Europe s central bank decided to leave current stimulus policies unchanged. The dollar however strengthened against the yen and the pound.

Toward 2100 GMT on Thursday, the euro was at $1.1261, up from $1.1242. A pound was worth $1.3295, down from $1.3340.

Policy makers at the European Central Bank opted Thursday not to make any changes to the ECB s ultra-loose monetary policy, keeping its asset-buying policy steady at 80 billion euros per month.

The central bank also revised its 2016 eurozone growth forecast to 1.7 percent, up 0.1 percentage points over a prior estimate, but pushed it lower for next two years by the same amount to 1.6 percent.

“The strength in the euro today is likely due to the European Central Bank maintaining its stance on monetary policy,” said Eric Viloria of Wells Fargo.

“There was some expectation that they could ease policy further… and they left their policy unchanged.”


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