ECB : The central bank announced a reduction of QE with a negative impact for the Euro on the Forex

As widely expected, the ECB announced a reduction of QE from the month of January.

The rates remain unchanged, but the ECB would announce a reduction in asset purchases of 60mds € currently 30mds € from the month of January, until September 2018 (9 months) and beyond if necessary.

The amount and duration of QE are in line with expectations, but the ECB keeps the door open to a further extension after September 2018.

On Forex, EUR/USD back to 1.1760, waiting for an explanation and more information in the speech of Draghi at 14: 30.

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