Euro plunges on ECB's sovereign bond-buying plan

Frankfurt (Jan 22)  The euro fell sharply against the U.S. dollar and the yen on Thursday in  New York  after the  European Central Bank  unveiled the launch of quantitative easing centering on government bond-buying.

The size of the expanded asset purchase program, under which the ECB said it will purchase  60 billion euros  worth of public and private securities a month, was larger than widely expected.

After the central bank's policy meeting, the euro briefly dropped to around  $1.1451  and  134.48 yen  against  $1.1577-1578  and  136.60-64 yen  at  5 p.m.  in  Tokyo  .

Source: KyodoNews