Euro Pares Gain Amid ECB Readiness to Act on Economic Weakness

The euro pared a gain against the dollar amid concern the region’s economy may struggle to grow a day after European Central Bank President Mario Draghi said he’s ready to cut interest rates again if needed.

The 17-nation shared currency strengthened earlier after German factory orders unexpectedly increased in March. The yen gained versus the majority of its 16 most-traded peers on haven demand. Australia’s dollar fell to a two-month low against the greenback after the central bank cut interest rates to a record low. Sweden’s krona strengthened as industrial production exceeded economists’ forecasts.