EUR/USD up to 1.3670 as ECB Refrains From Further Stimulus

The euro rose to a five-week high against the dollar as European Central Bank President Mario Draghi refrained from introducing further monetary stimulus.

The 17-nation currency appreciated against all of its 16 major counterparts as the ECB kept its interest-rate targets unchanged and gave no indication that policy makers will introduce a negative deposit rate that would drive investors into riskier assets. The pound weakened for a third day versus the euro as the Bank of England kept interest rates at a record low. The U.S. economy added 185,000 jobs last month, a Bloomberg survey shows before the Labor Department report tomorrow.

“There’s nothing that’s happened today to give the impression euro-dollar is going to go down,” Kit Juckes, global strategist at Societe Generale SA, said in an interview on Bloomberg Television with Guy Johnson. “All that can happen is a really big payroll number tomorrow or something like that from the states. That’s all that could change it at all.”


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