Euro Extends Drop as ECB Seen Supporting Rate Reduction

The euro extended a loss versus the dollar as the European Central Bank is seen moving closer to cutting interest rates.

A majority of ECB policy makers were open to cutting the benchmark rate yesterday and there is a possibility of a reduction early next year if the economy doesn’t pick up, three officials with knowledge of the Governing Council’s deliberations said.

To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net

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