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- American focus: euro fell
American focus: euro fell
The euro slid against the yen and the dollar after European Central Bank President Mario Draghi failed to offer sufficient measures to curb the region’s debt crisis.
The shared currency fell versus all of its 16 most-traded peers after Draghi said Germany’s Bundesbank has reservations about his plan to buy bonds, which remains to be fleshed out.
ECB officials are working on a plan to buy bonds in sufficient quantities to ease Europe’s fiscal turmoil, Draghi said. Details will be released in coming weeks, he told reporters at a news conference in Frankfurt.
The pound gained for the first time in three days versus the euro after the Bank of England kept its bond-buying program and interest rate unchanged. U.K. Monetary Policy Committee maintained its bond-buying program at 375 billion pounds ($582 billion) and left interest rates at a record-low 0.5 percent, in line with the median forecasts.
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