The CurrencyShares Euro Currency Trust (NYSEArca: FXE) is off almost 2% in the past month, a situation that has worsened in recent days after European Central Bank President Mario Draghi gave his most overt hints to date that the central bank could employ quantitative easing measures to prop up flailing Eurozone economies. [This Europe ETF is Proving Durable]
Other European states could also cut rates in response to the ECB’s actions. The Danish central bank, for instance, has followed the ECB’s lead, diminishing its deposit rate to negative 0.05%, Reuters reports.
The United Kingdom, though, is witnessing its currency plunge ahead of the Scottish referendum as a vote for independence fuels uncertainty over the outlook of Scotland’s involvement with the British pound. [Scottish Referendum Throws a Curve at U.K. ETFs]
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