Forex Market Update : Epic Research Singapore

The euro is seeing wild swings in Wednesday trading following reports that the European Central Bank’s executive board has developed a proposal calling for roughly €50 billion a month in sovereign-bond purchases.

The euro EURUSD, -0.16%   recorded a session high of $1.1680, essentially erasing four sessions’ worth of losses after the report was published, before moving lower to around $1.1591, slightly above its Tuesday afternoon level of $1.1547.

The pound traded at GBPUSD, -0.06%  $1.5133 and GBPEUR, +0.09%   €1.3055, compared to $1.1547 and €1.3112 Tuesday.

The dollar USDJPY, +0.20%   traded at ¥117.8320, compared to ¥118.6430 Tuesday afternoon.

The yen EURJPY, +0.08%  also traded higher against the euro, with the shared currency changing hands at ¥136.6200, compared to ¥137.0000 Tuesday.

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