EUR/USD Sits Above 1.23 with Eyes on ECB

The euro staggered at two-year lows early on Thursday, finding few friends in a market that is wagering the European Central Bank will be forced to inject even more stimulus to a sputtering euro zone economy.

While a full-blown quantitative easing program after Thursday’s policy review is unlikely, some believe the ECB may lay the groundwork for a move early next year.

Keeping pressure on the ECB to do more, a survey on Wednesday showed euro zone business activity grew less than thought last month, suggesting the bloc’s economy may be on the verge of contracting again.


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