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ECB cuts rates by 0.25%- EUR/USD falls back slightly
The ECB have just announced their eagerly awaited monetary policy decision. They have decided to cut the deposit rate by 0.25% to 2.25%. This was very much as expected, but at the same time warned about the prospects of further rate cuts to come, given the highly uncertain outlook and US trade tariff policy. The EUR/USD has fallen back slightly on this news, but overall not much of a dovish reaction in the Euro. This was very much the expected outcome anyway and now the markets will wait to see what the ECB boss, Christine Lagarde has to say in the 12.30pm Press conference. The EUR/USD is trading right now at 1.1350, where it was around 1.1360 leading into the decision
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