Euro weakens after dovish Draghi comments

The euro fell against major currencies Friday after European Central Bank President Mario Draghi suggested further stimulus measures could be deployed to fight low inflation in the eurozone economy.

The euro weakened EURUSD, -0.2912% 0.7% to trade at $1.0645 from $1.0723 in late trade Thursday, its lowest levels since April. Over the week, the single currency fell 0.6%, continuing its slide against the dollar.

“The euro, which closely tracks the German bund, fell across the board, not just against he dollar, after Draghi’s comments,” said Boris Schlossberg managing director of G-10 currency strategy BK Asset Management. Schlossberg said the market is “now pricing in more stimulus [from the ECB].”

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