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Euro craters, dollar soars, as ECB holds off on rate hikes

Reuters  |  NEW YORK 

By Nick BrownNEW YORK (Reuters) - The U.S. dollar rose against a basket of major currencies by more than a penny as the euro cratered, and U.S. stocks ticked up in afternoon trading on Thursday, as the European Central Bank signalled interest rate hikes were a long way off.The bank's unexpectedly dovish decision overshadowed its statement that it aimed to wrap up its crisis-era stimulus programme at the end of this year.The ECB now plans to reduce monthly asset purchases between October and December to 15 billion euros until the end of 2018 and then conclude the programme.Investors, though, ...

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First Published: Fri, June 15 2018. 01:10 IST