The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, is not expecting the bloc to fall into recession as it cut borrowing costs once again after figure

EUR/USD continues to backslide following the European Central Bank’s (ECB) quarter-point rate trim early Thursday. A lack of bullish momentum has Fiber extending near-term losses, and the pair is down over 3.5% from late September’s peak bids just above 1.1200.

The euro was pinned at an 11-week low on Thursday after the ECB cut rates by 25 basis points as expected, while European shares held onto gains on the back of better earnings both at home and from Taiwanese chipmaking giant TSMC.