FX.co ★ Euro Drops After ECB Decision

As expected, the European Central Bank raised its main refinancing rate by 25 basis points to 3.75 percent. Following the announcement, the euro edged down against its major opponents.

The euro was trading at 148.56 against the yen, 0.9793 against the franc, 0.8796 against the pound and 1.1054 against the greenback around 8:20 am ET.