September 04, 2014 BY Gerald Segal
Retail forex brokers scramble as Euro suffers 1% step drop following ECB rate cut
The (unhedged) forex broker's nightmare... The EURUSD fell by more than one percent in one giant step on Thursday, following news of (another) surprise rate cut by the ECB. The European Central Bank cut its key interest rate to 0.05 percent, as of September 10. The rate on the ECB's deposit facility will be cut still further into…
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