Euro Weakens as Draghi Announces Expanded Asset-Purchase Program
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The euro weakened toward an 11-year low against the dollar as the European Central Bank expanded its bond-buying program to include government bonds, a policy that tends to debase the currency.
The 19-nation shared currency fell against all but two of its 16 major peers as ECB President Mario Draghi announced plans to buy 60 billion euros ($69 billion) a month of public and private debt until September 2016. Before the announcement, the ECB was said to have considered buying 50 billion euros a month.