Commentary Euro near Two-Year Low as IFO to Spur Draghi Push The shared currency extended declines against most of its major peers after European Central Bank President Mario Draghi said officials “will do what we must” to raise inflation. The yen was about 1.1 percent from a seven-year low to the dollar as polls showed Prime Minister Shinzo Abe’s party has the most support after he called early elections. In the absence of any signs of an upturn in the German economy anytime soon, Draghi has the upper hand and therefore that plays to more euro weakness ahead. The euro was little changed at $1.2388 as today morning from Nov. 21, when it slid 1.2 percent. It touched $1.2358 on Nov. 7, the lowest since August 2012. The single currency slipped 0.2 percent to 145.74 yen. The yen rose 0.1 percent to 117.68 per dollar. It reached 118.98 on Nov. 20, the weakest since August 2007.
Posted on: Mon, 24 Nov 2014 02:42:58 +0000
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