Summary Euro earned a slight boost on Thursday after the European Central Bank meeting.
NEW YORK (AFP) - The euro earned a slight boost on Thursday after the European Central Bank offered no promises of further easing at the end of its first policy meeting since Britain s Jun 23 Brexit vote.
The ECB was not expected to take action, but with the shock vote by Britain to leave the European Union expected to slow economic growth in the region, there was some hope that bank chief Mario Draghi would give a strong hint at more relief.
Instead, he only signalled the "readiness, willingness, ability" of ECB policymakers to deploy its toolbox if needed, while praising the resilience of the markets following the Brexit vote.
The euro swung sharply against the dollar after the decision, but ended the day up barely 0.1 per cent at US$1.1024.
"The reaction was a little bit bullish when the (Draghi) press conference started because there were some expectations for more explicitly dovish language," said Vassili Serebriakov of Credit Agricole. "But overall, this didn t have much impact on the euro."
Meanwhile the Japanese yen reversed its two-week slide with 1.0 per cent gains on both the dollar and euro, after a report said Japan s government is planning stimulus twice as big as initially thought.
The package of at least 20 trillion yen is aimed refiring the world s number-three economy and fending off any impact from Britain s decision to leave the EU, Kyodo news agency reported citing unnamed sources.
