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Draghi’s Attempt to Talk Down Euro Lost on Traders: Currencies

As far as currency traders are concerned, it’s going to take more than words for European Central Bank President Mario Draghi to weaken the euro.

The 18-nation currency has slipped 0.5 percent against a basket of nine developed-market currencies since Draghi said March 13 that the exchange rate is “increasingly relevant in our assessment of price stability.” That compares with a drop of 1.8 percent for the yen and a 0.3 percent gain for the dollar, Bloomberg Correlation-Weighted Indexes show.