Euro rises after the ECB decision

The Euro rose today to its highest level in 12 weeks against the US dollar after the European Central Bank increased the size of the emergency bond purchase program by 600 billion euros to 1.35 trillion euros.

The European Central pledged to reinvest the returns until at least the end of 2022, and the bank predicted that economic growth in the euro area will contract by 8.7% this year and will grow by 5.2% in 2021 and by 3.3% in 2022.

The euro rose against the dollar by 1.04% to 1.1349 dollars after rising earlier to 1.1361 dollars, the highest level since March 11, and the main dollar index, which measures the performance of the US currency against a basket of major currencies, fell 0.67% to 97.675.