Euro edges down after ECB raises rates by 75 basis points

The euro edged down slightly and European government bond yields fell a whisker after the European Central Bank raised rates by 75 basis points in line with market expectations.

The euro dropped to a session low of $1.0008 having been trading down around 0.5% at $1.0032 before the decision.

The yield on the benchmark German 10-year Bund was last flat on the day at 2.115% vs 2.195% before the decision. The pan-European STOXX 600 index (.STOXX) was volatile and last down 0.35% having been down 0.7% earlier.

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