Euro extends losses vs dollar, hits session low

Thursday, 08 November 2012 18:59

Posted by Shoaib-ur-Rehman Siddiqui

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NEW YORK: The euro fell against the dollar and hit a session low in early New York trade on Thursday after European Central Bank President Mario Draghi began his press conference after the bank's decision to keep interest rates at 0.75 percent.

Draghi said economic growth in the euro zone is expected to remain weak and that inflation is likely to remain above 2 percent this year before falling below that level in 2013.

The euro slid as low as $1.2716 on Reuters data, and was last at $1.2733, down 0.3 percent on the day.