Euro rises on ECB decision

Euro rose against most major currencies today, after the ECB's decision to launch a quantitative easing program, amdi market's hopes about the US-China trade talks.

The ECB decided on a rate cut to -0.5% launched a bond-buying program worth 20 billion euros per month (about $22 billion) in its efforts to stimulate the European economy growth.

The Bank's Chairman, Mario Draghi, said that the new quantitative easing program and the rate cut are to stimulate the economic growth.

Draghi ruled out the possibility of a near recession for the European economy, but said that the risks are rising, while the rate cut came in response to the continued weak inflation.

US President Trump in a good will gesture announced the delaying of the $250 billion tariffs increase on Chinese imports for nearly two weeks, after the Chinese decision to exempt several US products from tariffs for a year.

By 18:11 GMT, EUR/USD rose by 0.6% to 1.1073, with a high of 1.1088 and a low of 1.0928.