EUR/USD Settles Below $1.25 as ECB Looms

The euro dangled just above a two-year trough on Thursday with investors waiting to see how European Central Bank chief Mario Draghi deals with dissent in the ranks, while the U.S. dollar surged in anticipation of a strong payrolls report.

The euro zone common currency last traded at $1.2483, having fallen nearly a full U.S. cent from Tuesday’s high of $1.2577. It was flirting once again with a two-year low of $1.2439 set early in the week.

All eyes are now on the ECB’s policy meeting later Thursday which has been given extra significance by reports some members were unhappy with Draghi’s aggressive stimulus push.

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