FX.co ★ Euro Drops After ECB Decision

As expected, the European Central Bank raised its main refinancing rate by 25 basis points to 4.25 percent from 4 percent. Following the announcement, the euro fell against its major opponents.

The euro was trading at 155.80 against the yen, 0.9531 against the franc, 0.8581 against the pound and 1.1106 against the greenback around 8:20 am ET.