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U.S. dollar plunges after ECB decision disappoints market

Xinhua, December 4, 2015 Adjust font size:

The U.S. dollar dived broadly on Thursday after the European Central Bank (ECB)'s stimulus measures fell short of market expectations.

The ECB announced on Thursday a cut in the rate of its key interest rate from negative 0.2 percent to a negative 0.3 percent, missing expectations of a more aggressive loose monetary policy.

Meanwhile, the central bank would extend quantitative easing by six months until at least March 2017 at the current rate of 60 billion euros (about 63.5 billion U.S. dollars) a month.

Following the announcement, euro climbed to a one-month high against the dollar.

The dollar index, which measures the greenback against six major peers,was down 2.1 percent at 97.8 in late trading.

In late New York trading, the euro gained to 1.0970 dollars from 1.00623 dollars of the previous session, and the British pound increased to 1.5150 dollars from 1.4942 dollars. The Australian dollar went up to 0.7347 dollars from 0.7303 dollars.

The dollar bought 122.36 Japanese yen, lower than 123.14 yen of the previous session. The dollar moved down to 0.9904 Swiss francs from 1.0185 Swiss francs, and it dropped to 1.3344 Canadian dollars from 1.3364 Canadian dollars. Endit