As expected, the European Central Bank kept refi rate at 0.00 percent and the marginal lending facility at 0.25 percent.

Following the announcement, the euro recouped its early losses against its major counterparts.

The euro was trading at 1.1238 against the greenback, 121.68 against the yen, 1.1184 against the franc and 0.8854 against the pound around 7:47 am ET.

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