ECB leaves monetary policy unchanged- EUR/USD slips

The eagerly awaited monetary policy decision from the European Central Bank is now known and as expected the ECB have sat on their hands and kept all three main policy rates unchanged. This was very much the expected outcome, although the earlier resignation of the boss, Christine Lagarde did offer some speculation that might not be the case. It is worth noting that Lagarde will address the press in the usual debrief at 1.45pm GMT and we might get some detail and colour behind her decision. 

The EUR/USD was falling back again ahead of this outcome, testing the low at 1.1125, having printed a European high earlier at 1.1152 ( we remind readers the Asian high was set at 1.1161). It was trading around 1.1130 leading into the ECB announcement. 

So, the immediate reaction has seen the EUR/USD not move much yet and it might have to wait to the press conference to do so, but we shall see, but it is certainly no higher and in fact it has just hit fresh sessison lows , trading at 1.1118

Elsewhere the DAX had continued to press higher and had reclaimed the 26k handle ahead of this decision. The index has remained above that level so far