Euro Falls as Draghi Says ECB Prepared to Act; Ringgit Rises
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The euro fell against the dollar after European Central Bank President Mario Draghi said policy makers are ready to cut interest rates again if needed after reducing them to a record low last week.
The yen dropped for a third day, trading at almost 100 per dollar, as a decline in the U.S. jobless rate to a four-year low fueled optimism that growth isn’t faltering and reduced demand for Japan’s currency as a haven. Australia’s currency slid after a report today showed retail sales shrank. The Malaysian ringgit rose to the highest in 1 1/2 years against the dollar after Prime Minister Najib Razak’s coalition was re-elected.