Euro tumbles as ECB accelerates asset purchases


The euro dropped below 1.12 against the US dollar today (May 19) as the market reacted to the European Central Bank's (ECB) plan to "moderately front-load" its asset purchase programme this month and next.

The central bank began its quantitative easing (QE) programme in March, and aims to buy €60 billion worth of public and private assets each month until September 2016, although it is willing to be flexible over the exact timing of these purchases.

In a speech yesterday, Benoît Cœuré, a member

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