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Euro-Dollar Pops after ECB Recalibrates Policy Cannons, Says Little on Exchange Rates
The Euro-Dollar exchange rate cheered on Thursday after the European Central Bank (ECB) carried out a widely anticipated recalibration of its monetary policy settings while saying little about recent gains made by the Euro, indicating that currency strength may no long be such a strongly felt concern at the bank. European policymakers left all of the ECB's main interest rates unchanged following their December meeting, in line with market expectations, but agreed to expand the bank's coronavirus-related quantitative easing programme. Rates charged or otherwise paid on the ECB's main refinancing operations, marginal ... (full story)