The European Monetary Union’s ECB will release an announcement early Thursday. Many anticipate more easing, which would further weaken the euro against the greenback.
“The market’s getting prepared for at least a very dovish ECB,” Mark McCormick, a foreign-exchange strategist at Credit Agricole SA, said in the article. “The euro’s going to weaken pretty substantially against the dollar in 2015.”
On the other hand, if the ECB fails to meet expectations and the euro currency begins to appreciate, more aggressive currency traders can use leveraged long ETFs, such as the ProShares Ultra Euro (NYSEArca: ULE) and Market Vectors Double Long Euro ETN (NYSEArca: URR), which both take the double or 200% performance of the USD price of the euro.
For more information on the EUR currency, visit our euro category.
Max Chen contributed to this article.