EUR/USD Drops to Near 1.10 after ECB

The euro fell on Thursday below $1.10 for the first time since 2003 and the U.S. dollar added to gains against an index of currencies after the European Central Bank said it will next week launch a massive bond-buying program meant to boost economic growth.

The euro zone common currency, which has lost about 15 percent against the dollar in six months, briefly traded under $1.10 for the first time since September 2003 and hit a session low of $1.0988.

It is also on track for a third consecutive weekly loss against the greenback. The euro is also on track for its ninth consecutive monthly loss against the dollar, which has never happened before. February also marked the eighth loss in a row for the euro. Before then, the longest monthly losing streak for the euro vs the dollar was seven months, according to FactSet.

CNBC

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