Economics
Euro Rises to 2-Month High on ECB Inflation Outlook; Yen Falls
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The euro rallied to a two-month high against the dollar after European Central Bank President Mario Draghi said inflation is expected to rise gradually, damping bets policy makers will introduce further monetary stimulus.
The 18-nation currency advanced versus all except one of its 16 major counterparts as the central bank predicted economic growth will accelerate. The yen dropped to a five-week low versus the greenback after an advisory panel said Japan’s Government Pension Investment Fund no longer needs to focus on domestic bonds. The dollar fell versus most of its major peers before a nonfarm payrolls report tomorrow that is forecast to show jobs growth in February trailed last year’s average.