Euro Falls Below $1.30 on Draghi Pledge; Rupee Drops to Record

The euro fell below $1.30 for the first time in almost a month as European Central Bank President Mario Draghi said monetary policy will remain stimulative, dimming the relative allure of assets denominated in the currency.

The dollar remained higher versus the 17-nation currency even as Federal Reserve Bank of Richmond President Jeffrey Lacker said he expects U.S. economic expansion to remain “sluggish” for “a couple more years” and that the central bank isn’t close to reducing its bond holdings. Australia’s dollar rose as Prime Minister Julia Gillard lost a ballot for the leadership of the governing Labor party to her predecessor, Kevin Rudd. India’s rupee plunged to a record versus the dollar.