EUR/AUD hits 4-month low after ECB

FXstreet.com (Córdoba) - The EUR/AUD broke below the 1.4100 mark and dipped to its lowest in 4 months as the euro was crashed by the ECB decision to cut rates.

The EUR/AUD dropped more than 180 pips after the announcement and hit a low of 1.4049 before recovering slightly. At time of writing, the pair is trading at the 1.4090 area, still 0.6% below its opening price.

Euro weakens against commodity currencies

The euro also slumped against the Canadian and New Zealand dollars, with EUR/CAD and EUR/NZD hitting multi-month lows at 1.3911 and 1.5912 respectively.