Markets

Euro extends losses as Draghi's comments on more action weigh

Published November 21, 2014 Updated November 21, 2014 03:03pm

1 min

By Shoaib Ur Rehman

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LONDON: The euro fell sharply against the dollar and the yen on Friday after European Central Bank chief Mario Draghi said inflation expectations were declining to levels that would be deemed excessively low, keeping the door open for further easing.

The euro shed 1 percent against the yen to 146.72 yen, while it dropped 0.6 percent against the dollar to trade at $1.2450.

Draghi also said the central bank is ready to act in a timely manner if low inflation persists.

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