The euro falls despite the sharp rise in interest rates

The euro went down today despite the European Central Bank (ECB) raised interest rates more aggressively than expected and approved an instrument to curb the risk premiums of some countries in the euro.

The euro It was trading at $1.0190 by 3:40 pm GMT, versus $1.0210 in late European forex trading the previous day.

The ECB fixed the reference change of the euro at $1.0199.

The euro reacted with gains at first to the ECB’s decisions, but lost ground again later.

The ECB decided to raise its interest rates by half a percentage point, to 0.50%, the first increase in eleven years, and to approve a new unlimited instrument that allows it to curb the risk premiums of some countries by buying their sovereign debt.

The single currency was traded in a trading band between $1.0163 and $1.0276.

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