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Currencies: Euro climbs, dollar slips with ECB decision on deck

The euro firmed up against the dollar on Thursday, ahead of a policy announcement from the European Central Bank, which may outline the bank’s plans for winding down its bond-buying program.

Meanwhile, a popular gauge for the U.S. dollar continued to decline in the wake of an interest-rate hike by the Federal Reserve on Wednesday. The dollar initially climbed after that decision, but then slipped as the upbeat mood faded. The Fed’s key interest rate now sits within a range of 1.75% to 2%, after the seventh hike since December 2015.

In addition, the Fed indicated a shift in its thinking, projecting a total of four rate increases this year, instead of the three previously seen.

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