BRUSSELS (dpa-AFX) - As expected, the European Central Bank raised its main refinancing rate by 25 basis points to 4.50 percent. Following the announcement, the euro dropped against its major opponents.
The euro was trading at 157.52 against the yen, 0.9556 against the franc, 0.8582 against the pound and 1.0695 against the greenback around 8:20 am ET.
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