ECB Leaves Interest Rates at Seven-Year High to Fight Inflation

By Christian Vits

Aug. 7 (Bloomberg) -- The European Central Bank kept interest rates at a seven-year high to fight inflation even as evidence of an economic slump mounts.

ECB policy makers meeting in Frankfurt left the benchmark lending rate at 4.25 percent, as predicted by all 60 economists in a Bloomberg News survey. The bank, which raised rates last month, will wait until the second quarter of next year to cut borrowing costs, a separate survey shows.

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Being different from GBP,Euros is left mixed. Its is now at 7yrs high. This only show that europe is fighting a tough economic turn-down.

Based on latest news, this actually changed the sentiment of the speculators.
USD is now riding on the bull while EUR, GBP, JPY, AUD all goes down...

What is happening ? In a short 1hr, my equity of 45k suddenly dropped to 23k USD...
I betted on AUD/USD as earlier the news was hitting hard on USD and i thought it might just pull up AUD...I was wrong.

NOW I CAN ONLY HOLD...

my play:
Pair Amount BuySell OpenRate CurrentRate Purchasetime ProfitLoss
AUD/USD 10,740,000 Buy 0.9124 0.9101 08:35:04 -24,702.00