The euro was trading marginally lower at $1.1509 on Thursday morning, ahead of the ECB meeting later in the session. The single currency had spiked to 14-month highs this week on the back of apparently hawkish comments by ECB President Mario Draghi.
The ECB is not expected to adjust interest rates on Thursday but it is projected to signal plans to slow down some of its asset purchases over the next few months.
Meanwhile, the second round of formal Brexit talks are set to continue on Thursday as negotiators from the EU and the U.K. meet in Brussels. Britain’s Brexit Secretary David Davis is expected to speak at a press conference later in the session.
Earlier in the trading day, the Bank of Japan kept its monetary policy unchanged after its two-day meeting. However, the central bank slashed its inflation forecasts for fiscal years 2017/2018 and 2018/2019.
U.S. stocks closed at record highs on Wednesday as investors digested better-than-expected earnings.
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