50% less QE: 30 billion instead of 60 billion from the beginning of 2018 through September, more or less as expected. The door is open for more bond-buying afterward.

EUR/USD falls to a new low of 1.1760, basically erasing the gains seen in the past day. The high was 1.1835

The European Central Bank was expected to announce some form of QE tapering in its all-important meeting. The mainstream expectation was for halving the amount of bond buys from 60 billion to 30 billion euros per month. EUR/USD was trading around 1.1805 ahead of the decision. See our preview: ECB Taper time, but of what type? 3 scenarios.

Follow a live blog of the decision here:

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