Euro Slumps With An Unexpected ECB Rate Hike
The market worries that a 25 basis points rate hike by the European Central Bank might further hamper the already dim economic prospects within the Eurozone.
The Euro (EUR/USD) tumbled 0.8% lower to 1.0887 (1.0975) weighed by a soft Eurozone Inflation report. The Dollar Index (DXY), which measures the value of the Greenback against a basket of 6 major currencies rebounded to 103.55 from 102.80.
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