The Euro, on Thursday, January 19, dipped after European Central Bank chief Mario Draghi spoke on dragging inflation and the need for further monetary policy assistance.
The euro fell below $1.06 to its lows of the day as Draghi spoke at a news conference, while the dollar index .DXY, which tracks the greenback against the euro and five other major currencies advanced.
The ECB announced it would maintain its negative interest rate policy and maintain a record pace of asset purchases to stimulate tepid growth.
Draghi described the current euro zone recovery as “dampened by the sluggish pace of structural reform” and said a “very substantial degree” of monetary policy stimulus was still needed.
The euro fell to a session low of $1.0590 against the dollar and to a 10-day low of 86.11 pence against sterling EURGBP=., Reuters reports.
Meanwhile, the British Pound Sterling soared against the dollar and euro after Prime Minister Theresa May said there would be a parliamentary vote on Britain’s Brexit deal with Europe.
