Euro rises to $1.1446 after the European Central Bank cut interest rates by 25 basis points. The ECB decision is welcome by investors as a “sign that inflation is under control”, Edmond de Rothschild REIM’s Bert-Jan Scheffer says in a note.

The central bank's decision comes at a critical time for the euro zone economy as businesses and policy makers face increasing uncertainty in the wake of rising geopolitical tensions. The European Central Bank on Thursday announced a 25-basis-point interest rate trim taking the deposit facility rate to 2%,