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Euro Gains as Nowotny Says Negative-Rate Talk Over-Interpreted

The euro strengthened against the dollar and yen after European Central Bank Governing Council member Ewald Nowotny said markets over-interpreted President Mario Draghi’s comment made yesterday that the ECB has an “open mind” on reducing the deposit rate below zero.

The 17-member currency advanced 0.3 percent to $1.3099 as of 7:54 a.m. London time. It gained 0.4 percent to 128.44 yen.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editor responsible for this story: Paul Dobson at pdobson2@bloomberg.net

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