EUR/USD Remains Below $1.16 as Crucial ECB Meeting Looms

The euro flirted with 11-year lows early on Monday as investors braced for the European Central Bank to take its boldest steps yet to combat deflation and revive the euro zone economy.

The common currency last traded at $1.1561, not far from a trough of $1.14595 hit on Friday. Against the yen, it fetched 135.71, near a three-month low of 134.70.

That the ECB will launch a large-scale sovereign bond-buying program at its Jan. 22 meeting is no longer in question, but what is unknown is how the plan will be designed and whether it will be seen as credible and sufficient.

CNBC

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