Euro Strongest Versus Dollar Since January 2015 After Draghi Speech

By Anneken Tappe Markets MarketWatch Pulse

The euro jumped against the U.S. dollar on the back of European Central Bank President Mario Draghi's speech at Jackson Hole, Wyo. The eurozone currency surged and remains up 1% versus the dollar at $1.1922 in the aftermath of Draghi's speech. The euro reached its highest level since January 2015. The euro began to strengthen earlier after the speech from Federal Reserve Chairwoman Janet Yellen disappointed markets. The ICE U.S. Dollar Index dropped 0.8% to 92.5080, also its lowest level since January 2015, before rebounding slightly to 92.5420. The British pound held on to its gains against the dollar from earlier at $1.2884, up 0.6% from Thursday.

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