Euro falls sharply vs dollar after Draghi comments

Euro falls sharply vs dollar after Draghi comments
Updated on

Summary Comments about euro from ECB president pushed the currency sharply lower against dollar.

 

The euro fell to $1.3401 in late trading Thursday from $1.3525 late Wednesday.

 

Still, the euro has been trading above $1.30 since December and jumped above $1.35 last month. A stronger euro could raise the price of exports, possibly slowing economic activity.

 

ECB president Draghi said that he will keep a close eye on the impact of a stronger euro. Draghi says the currency's strength is a sign that investors are more confident in the region, but it could hurt economic growth.

 

In other trading, the British pound rose to $1.5713 from $1.5666.

 

The dollar rose to 93.52 Japanese yen from 93.38 Japanese yen, to 0.9181 Swiss franc from 0.9095 Swiss franc and to 99.83 Canadian cents from 99.60 Canadian cents.
 

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