Euro Falls Against Dollar, Pound On Draghi's Remarks
The euro fell against the dollar and the pound Monday after European Central Bank President Mario Draghi told European lawmakers that economic growth in the eurozone weakened over the summer. Once again, Draghi underscored the central bank's commitment to raising inflation to just below 2%, the ECB's target rate, by expanding its balance sheet during his testimony before the European Parliament. The euro fell to $1.2457 Monday morning, after trading above $1.2500 before Draghi's remarks. Elsewhere, the euro fell to 0.7967 pound, compared to 0.7995 pound before Draghi's remarks.
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