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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