Deals
Euro Drops as Lackluster Growth Boosts ECB-Stimulus Speculation
- Dollar gains versus most peers before U.S. retail-sales report
- Euro-region economy expanded 0.3 percent last quarter
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The euro weakened as data showing growth in the currency bloc unexpectedly slowed in the third quarter boosted speculation the European Central Bank will cut its deposit rate and expand its asset-purchase program next month.
The 19-member shared currency dropped toward a six-month low against the dollar as the data highlighted the possibility the ECB will bolster its stimulus program next month even as the Federal Reserve looks set to raise interest rates. ECB President Mario Draghi said Thursday that quantitative easing will be extended if needed. The dollar climbed versus most of its 16 major peers before a report economists said will show retail sales in the U.S. increased last month.