Euro Rockets Back As Draghi Says No More Cuts

By Markets MarketWatch Pulse

The euro staged a stunning recovery Thursday, briefly breaking above $1.11 after European Central Bank President Mario Draghi said he doesn't anticipate further rate cuts. The shared currency was worth $1.1030 in recent trade, compared with $1.0986 late Wednesday. Draghi said he believes this cut could be the last, though he acknowledged that this could change.

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