NEW YORK: The euro dropped to a four-week low against the US dollar on Thursday, after the European Central Bank president flagged further monetary easing in December and kept interest rates steady.
At the same time, the dollar was bolstered in part by US gross domestic product data, which showed record growth for the third quarter, as well as an improving trend in jobless claims.
But the market’s focus was on the ECB, analysts said, as Europe grapples with the surge in Covid-19 cases that forced national lockdowns in Germany and France and a regional lockdown Spain.
In late morning trading, the euro fell 0.6% to $1.1681, after earlier falling to a four-week low of $1.1675.
The euro also fell 0.4% versus the yen to 122.03 yen.
The dollar index, with the euro as the largest component, rose to a four-week high and was last up 0.4% at 93.81.
The greenback slightly benefited from data showing record growth pace in US GDP for the third quarter.
Against the yen, the dollar rose 0.25 to 104.46 yen.—Reuters
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