Tale of Two Meetings as Euro's Rally Thwarts Draghi Again: Chart

How Are Markets Reacting to ECB Rate Cut?

Monetary stimulus tends to depress a currency -- not always for the euro. The shared currency has rallied during the past two meetings when the European Central Bank eased policy. ECB President Mario Draghi expanded accommodation Thursday before whipsawing the shared currency by saying the central bank isn’t likely to cut interest rates further. In December, the euro surged after the scale of stimulus measures disappointed some investors.

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