Dollar near two-year lows vs. euro after Draghi comments
Friday,
21-Jul-2017
12:23 PM (IST)
The dollar headed for weekly losses on Friday, wallowing at its lowest levels against the euro in nearly two years after what markets perceived as hawkish talk from European Central Bank chief Mario Draghi.But the Australian dollar skidded against the greenback after contrastingly dovish comments from a Reserve Bank of Australia official.The dollar index, which tracks the U.S. currency against a basket of six major rivals, was flat on the day at 94.322, not far from its overnight low of 94.090, its deepest nadir since August 2016. It was down 0.9 percent for the week.The euro caught its breath and steadied at $1.1626 after climbing as high as $1.1659 on Thursday, its loftiest level since August 2015.Draghi said that no exact date had been set for discussing any changes to the ECB's ultra-easy monetary program but did say policymakers would revisit the topic in the autumn.The dollar edged up 0.1 percent against the yen to 112.06, after touching an overnight low of 111.48, its lowest since June 27. It was on track to shed 0.4 percent for the week.The euro crept 0.1 percent higher against its Japanese counterpart to 130.32 yen, within sight of last week's high of 130.76 yen, its highest since February. It was on track to gain 1 percent for the week.
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