🔽 EUR drops after ECB hikes by 75 bp

The European Central Bank delivered a 75 basis point rate hike, in-line with market expectations. Statement also showed that interest rates are expected to continue to rise in the coming months. ECB also announced that it will change terms of TLTRO loans with details being announced at 2:45 pm BST.

Initial reaction shows that the market considered the decision as dovish - EURUSD moved lower while ticked higher. However, big part of the move has been erased since.

ECB post meeting conference starts at 1:45pm BST and comments at the conference may impact markets significantly. We will report the conference for you in the News section.

EURUSD moved lower in a knee-jerk reaction after an in-line ECB rate hike. However, move has been almost fully erased since. Attention turns to Lagarde's presser at 1:45 pm BST. Source: xStation5