Euro Drops From 2 1/2-Year High on Draghi Comments; Aussie Gains

The euro weakened from a 2 1/2-year high against the dollar after European Central Bank President Mario Draghi said policy makers were ready to ease monetary policy in June if needed.

The Bloomberg Dollar Spot Index touched a six-month low as Federal Reserve Chair Janet Yellen, testifying for a second day to lawmakers, said the central bank will maintain stimulus as long as necessary. Australia’s dollar strengthened to a three-week high after employers boosted payrolls and Chinese trade data improved. Chile’s peso rallied the most more than two years as inflation rate jumped to a five-year high. Norway’s krone advanced for a third day.