The euro is seeing wild swings in Wednesday trading following reports that the European Central Bank’s executive board has developed a proposal calling for roughly €50 billion a month in sovereign-bond purchases.
The euro EURUSD, -0.16% recorded a session high of $1.1680, essentially erasing four sessions’ worth of losses after the report was published, before moving lower to around $1.1591, slightly above its Tuesday afternoon level of $1.1547.
the ICE U.S. Dollar Index DXY, +0.19% , a measure of the dollar’s strength against a trade-weighted basket of six currencies, fell 0.12% to 92.9200, dragged lower by a slightly stronger euro.
The pound traded at GBPUSD, -0.06% $1.5133 and GBPEUR, +0.09% €1.3055, compared to $1.1547 and €1.3112 Tuesday.
The dollar USDJPY, +0.18% traded at ¥117.8320, compared to ¥118.6430 Tuesday afternoon.
The yen EURJPY, +0.06% also traded higher against the euro, with the shared currency changing hands at ¥136.6200, compared to ¥137.0000 Tuesday.
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