The euro is falling as Draghi speaks

The Euro is falling to its lowest level in 11 years against the dollar.

European Central Bank president Mario Draghi is holding a press conference, outlining the quantitative easing programme due to begin on March 9. Earlier, the bank announced it will keep interest rates unchanged in March as expected.

The Euro rallied briefly before falling to as low as 1.1015 against the US dollar.

The yield on Germany's 10-year bund has fallen as much as 6% during the press conference.

US stock futures are higher following two consecutive days of the market closing lower. Initial jobless claims rose to 320,000 last week from 313,000 the prior week, missing the expectation of a decline to 295,000.

Here's a chart of the Euro's volatile move as Draghi speaks: