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Euro sharply up at the beginning of European part of session

After euro edged significantly down during the past two weeks due to SNB decision to stop protecting EUR/CHF exchange rates at 1.20 per CHF, and ECB announcement of asset-purchase program worth 60 billion euros, as well indicating possibility of further monetary measures, at the beginning of this week euro managed to rebound despite concerning results of Greek parliamentary elections that could bring another crisis to Eurozone.

ECB announced an expanded asset-purchase program

ECB announced an expanded asset-purchase program, including private and public securities, of up to 60 billion euros ($69 billion) a month to spur growth and counter deflationary pressures. ECB decision reflects adverse developments since potential for second round effects have increased.

ECB left interest rates unchanged

As it was largely expected the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05%, 0.30% and -0.20% respectively.
 
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ECB will take the decision to buy sovereign debt on Thursday

French President François Hollande said Monday the European Central Bank will announce plans to buy eurozone sovereign debt later this week, reinforcing expectations the Frankfurt-based institution will follow other major central banks into so-called quantitative easing.
 
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