empty
 
 

2015.04.1521:13:30UTC+00British pound rises as ECB upholds QE program

The British pound climbed half a percent to a four-week peak versus the euro Wednesday following the European Central Bank said it won't rein in or cut back its €1.1 trillion bond buying program.

Shooting down speculations, ECB President Mario Draghi clarified quantitative easing would remain until September 2016 or inflation was back up to target.

Versus the US dollar, sterling traded at $1.4785. Sterling reached 71.71 British pence per euro.

Certain people thought Draghi would begin talking about tapering, but reassured the central bank's position “they would be looking to stick to their plans of doing QE until September 2016," said Angus Campbell, Senior Analyst at FxPro.

Also, the impending May general election has been affecting the currency, which would be expected to yield no outright winner.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback