Euro trades with losses after Draghi's remarks

Tuesday, 18. June 2019 10:40

The euro fell on Tuesday after President of the European Central Bank (ECB) Mario Draghi vowed to cut interest rates in order to fight low inflation. Draghi also hinted at asset purchases and insisted the bank "remains committed" to combating low inflation. The ECB stated earlier this month it will hold the interest rates at record lows at least through June of next year

The monetary union currency was down 0.22% compared to the dollar, buying 1.1192 at 10:39 am CET, after trading with gains earlier. The euro was down 0.14% against the British pound, selling for 0.8938 at 10:39 am CET, whereas it fell 0.43% compared to the Japanese yen, changing hands for 121.232 at 10:40 am CET.

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