Economics
Euro Falls to Lowest Since March as Draghi Eases Nerves on QE
- Currency drops as ECB chief says abrupt end to plan unlikely
- Heads for a third weekly decline after central-bank meeting
ECB Must Decide QE Path in December, Says Owen
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The euro fell to the lowest since March after Mario Draghi said quantitative easing is unlikely to come to an “abrupt” end, making traders more confident that unprecedented monetary stimulus will continue beyond its planned end date.
The single currency declined for a third week after the European Central Bank president said Thursday that neither tapering nor an extension of the institution’s bond-buying plan were discussed at its two-day policy meeting. The euro has taken a leg lower this month, sliding about 3 percent -- a change from the third quarter, when it traded in its narrowest range ever.