​EUR/USD Surged During ECB Chair Lagarde’s Speech

WikiFX News (5 June)-The European Central Bank released the latest monetary policy decision yesterday, and EUR/USD rose significantly while the ECB Chair Lagarde was still speaking.

ECB Commissions latest decisions include increasing the Pandemic Emergency Purchase Programme (PEPP) by 600 billion euros to 1.35 trillion euros. Net purchase under this programme will be extended to at least the end of June, 2021. The principal payments from maturing securities under the scheme will continue to be reinvested until at least the end of 2022.

The ECBs projection for EUR/USD rate is 1.09 in 2020 and 1.08 in 2021-2022.

EUR/USD shortly spiked 67 pips after the decisions were released and then slightly dropped back. Later it grew again during Lagardes speech at the press conference.

From WikiFX, a world-renowned forex trading inquiry service provider. For more information, please download: bit.ly/WIKIFX