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Euro falls sharply vs dollar after Draghi comments

Source : AP
Last Updated: Thu, Feb 07, 2013 22:30 hrs

Comments about the euro from European Central Bank president Mario Draghi pushed the currency sharply lower against the dollar Thursday.

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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