By Jonathan Davies

The euro fell to a nine-year low against the US dollar on Monday after the European Central Bank (ECB) announced plans for quantitative easing last week.

The currency fell by 1.2% to $1.1864 - it's weakest price since March 2006.

It comes after the president of the ECB, Mario Draghi, said in an interview with German newspaper Handelsblatt that the ECB may launch quantitative easing to stimulate growth in the eurozone.

Although it has already cut interest rates to record lows and bought some bonds issued by private companies, full-scale QE hasn't been started.

Greece

Political turmoil in Greece also contributed to the fall in price of the euro.

There is growing speculation that the left-wing, anti-austerity Syriza party could win the general election on 25 January.

That has led to reports suggesting that Greece could ignore the terms of its international bailout and leave the eurozone.

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