The Traderszone Network

Published in TZ Latest News 4 September, 2014 by The TZ Newswire Staff

Euro under water as ECB opens liquidity spout

The euro was deep under water on Friday having suffered its steepest daily fall in three years after the European Central Bank stunned markets by cutting interest rates and embarking on a trillion-euro asset-buying binge. The aggressive shift sent short-term bond yields into negative territory in Germany, France, the Netherlands and Austria, giving investors an overwhelming incentive to sell euros for higher yielding assets elsewhere.