Still No Change in Tight Forex Ranges after ECB’s Rate Decision
The ECB decided to leave interest rates unchanged yesterday, which was expected by the market. But then the central bank’s president announced more quantitative easing, but at the same time saying the ECB has done enough already. This confused the market, triggering a recovery of the dollar, which is still inversively linked to stock markets. We see a continued sideways market for currencies amidst economic uncertainty. Later in the day, the worse than expected U.S. Non-Farm Payroll report
