The euro nursed losses against the dollar on Thursday after dipping to a 22-mont...
TOKYO - The euro nursed losses against the dollar on Thursday after dipping to a 22-month low on a surprise drop in a leading indicator for economic activity in Germany, amplifying worries of a growth slowdown in Europe’s largest economy.
The greenback rallied to a 23-month high of 98.189 against a basket of key rivals overnight after gaining more than half a percent, largely propelled by the euro’s weakness. The index last traded slightly lower at 98.096. The euro sat at $1.1153, having suffered its biggest one-day loss against the dollar since early March when the European Central Bank pushed back plans for its first post-crisis interest rate hike.
The BOJ is expected to keep monetary policy steady on Thursday and predict that inflation will fall short of its 2 percent target for three more years, signaling that its massive stimulus will stay in place for the foreseeable future.The Australian dollar was largely unchanged at $0.7017.
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