Euro Gains Versus Yen as ECB Refrains From Signaling Cut
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The euro strengthened versus the yen after European Central Bank President Mario Draghi said policy makers didn’t discuss cutting interest rates at their meeting this week.
The 17-nation currency fluctuated against the dollar after Draghi said at a press conference in Barcelona there has been “significant progress” on the fiscal front. Higher-yielding currencies, including Mexico’s peso, declined versus the greenback as stocks and commodities fell amid lower appetite for risk. The dollar pared gains versus the yen after a gauge of U.S. service industries fell more than forecast.