Euro slumbers through ECB decision

- By FX Markets Staff
- @FXMarkets_
- 09 Dec 2002

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The euro traded around parity with the US dollar before and after the decision, which lowered rates to 2.75%. A cut in rates had been priced in by much of the market -- the main question had been whether the bank would lower rates by 50bp or 25bp.

Analysts said the lack of reaction signals a return to the norm for FX markets. "The decision was an event risk for the euro, but now the focus will be back on US fundamentals and equities," said Kamal Sharma, currency strategist at Commerzbank in

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