Dollar posts largest daily drop vs. euro in 2 months

The ICE U.S. Dollar index DXY, +0.04% a measure of the dollar’s strength against a basket of six currencies, fell to a session low of 96.8900, its weakest level since early November and what amounted to a daily drop of more than 2% before paring its decline to 97.9500, a drop of 1.7% on the day.

The euro EURUSD, -0.1531%  traded at $1.1108 late Wednesday in New York, compared with $1.0925 late Tuesday in New York. It was the euro’s largest daily gain versus the buck since the European Central Bank unveiled a smaller-than-expected expansion of its stimulus measures on Dec. 3.

The dollar USDJPY, +0.04%  weakened to ¥117.78 Wednesday, compared with ¥119.80 Tuesday. The pound GBPUSD, -0.2191%  traded at $1.4603, compared with $1.4403 late Tuesday.

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