Euro Up as ECB Shifts Stimulus Program

The euro pared previous losses with a number of currencies this Thursday as the ECB affirmed that a series of measures used to stimulate the bloc’s economy on its way out of recession will be phased out, adding evidences that the economic health in the Eurozone is improving significantly.

The European Central Bank President Jean-Claude Trichet stated today that gradually stimulus measures used to dodge recession will be lifted towards the complete phasing out of these interventions, as Europe is showing a number of reports indicating better economic figures during the past months.

EUR/USD traded at 1.4877 as of 14:34 GMT after being traded at 1.4816 before these statements.

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