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European stocks rally after ECB signals more action if necessary

FXStreet (Mumbai) - The European stocks rose after the European Central Bank (ECB) President Mario Draghi indicated that the policy makers are unanimous on the necessity of implementing more measures that shall expand ECB’s balance sheet size.

The Dax is up 1.074%, while the Cac is up 0.97%. The Euro Stoxx 50 has gained 1%. The Eurozone periphery equity indices have also gained more than 0.5% each. Meanwhile, the single currency fell to 1.2394 against the US Dollar, its lowest level since Aug 2012.

Moreover, the ECB included a balance sheet target for the first time today. President Draghi brushed off rumors of difference among policy makers over implementing more aggressive measures that shall boost the ECB balance sheet towards early-2012 levels.

USD/CHF hits fresh 1-year highs

USD/CHF jumped from 0.9620 to 0.9718, reaching the strongest levels since July 2013 during Draghi’s press conference.
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