The euro rose from the lowest level in a month as European
Central Bank President Mario Draghi strengthened his pledge to keep interest
rates low for an extended period to protect economic gains.
The greenback touched a four-month high against a basket of
peers as initial-jobless claims dropped before the U.S. releases its
nonfarm-payrolls report tomorrow. Emerging-market currencies plunged on
speculation that forecast U.S. jobs gains will be enough to allow the Federal
Reserve to keep cutting bond purchases that have added liquidity to global
markets. Canada’s dollar fell to a four-year low.
The euro gained 0.2 percent to $1.3608 at 5 p.m. in New
York after declining to $1.3549, the lowest level since Dec. 5. It failed to
fall below the 100-day moving average of $1.3546, a measure of momentum. The
common currency added 0.2 percent to 142.65 yen. The dollar closed little
changed at 104.82 yen.
The Bloomberg Dollar Spot Index, which tracks the U.S.
currency against 10 of its major counterparts, dropped 0.1 percent to 1,028.21
after climbing to 1,030.42, the highest level since Sept. 9.
(Source: Bloomberg)