Skip to content
Subscriber Only

Euro Drops to Weakest Since April on Outlook for ECB; Rand Gains

The euro slid to a three-month low against the dollar after an official at the European Central Bank signaled it may remain accommodative for more than a year, further diverging from policy in the U.S.

Europe’s shared currency stayed lower even after the ECB, in an e-mailed statement, said Executive-Board Member Joerg Asmussen didn’t intend to give guidance on rates for an exact period. Federal Reserve Chairman Ben S. Bernanke speaks tomorrow on economic policy amid bets he’ll soon begin reducing monetary stimulus. South Africa’s rand climbed as risk appetite rose.