Euro declines against dollar as markets digest ECB decisions

Euro declined against most major rivals on Monday as markets asses latest policy decisions by global central banks. 

Both the European Central Bank and Bank of England decided to raise interest rates by 50 basis points to control inflation. 

ECB President Christine Lagarde said that the economy in the euro zone has witnessed considerable slowdown in growth last year. 

Otherwise, recent  data showed the US economy added 517 thousand new jobs in January, while analysts expected an addition of 193 thousand. 

US unemployment declined to 3.4% from 3.5%, while analysts expected an increase to 3.6%. 

The Fed announced on Wednesday a rate hike of 0.25% to 4.75%. 

The Fed slowed down its pace of policy hikes after signals of slower inflationary pressures in the US economy. 

Otherwise, German data showed factory orders rose 3.2% last month, passing estimates of a 2.1% increase. 

The euro zone retail sales fell 2.7%, while analysts expected a drop of 2.4%. 

EUR/USD fell 0.3% to 1.0762 as of 10:48 GMT. 

What's Expected for Euro?

Analysts expect the euro to undergo further pressure as the dollar strengthens on haven demand.