Forex Market Update : Epic Research Malaysia

The euro fell below $1.30 Thursday, continuing its losses against the U.S. dollar in the wake of the European Central Bank’s surprise decision to cut a key benchmark rate. The ECB also announced a bond purchasing program meant to bolster Europe’s tepid recovery.

The moves led to the euro EURUSD, -0.09% falling to a low of $1.2970, from $1.3150 Wednesday.

The euro saw more modest losses against the yen and pound Thursday. Against the pound. EURGBP, +0.05% the euro was trading at 0.7912 pound Thursday morning, down from £0.7988 late yesterday. It also fell to 136.32 yen Thursday, from ¥137.90 Wednesday.

The dollar USDJPY, +0.08% traded at 105.08 yen Thursday, up from 104.86 Wednesday evening, and nearing a fresh eight-month high.

The ICE U.S. Dollar Index DXY, +0.02% , a measure of the greenback’s performance against a basket of six widely-traded currencies, rose to 83.3290 Thursday, from 82.8650 Wednesday.

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