Euro Drops to 12-Year Low as Draghi Snaps Up Bonds
Can the U.S. Dollar Be Too Strong?
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The euro slumped below $1.05 for the first time in 12 years after European Central Bank purchases of sovereign debt sent yields to record lows across the region.
The shared currency is the biggest loser among its developed-market peers after ECB President Mario Draghi reiterated the central bank’s commitment to spur inflation. A U.S. retail-sales report Thursday may add to speculation the Federal Reserve will raise interest rates this year after jobs data last week beat economists’ forecasts.