EUR/USD Above $1.36 on ECB Dovish Comments

The euro dipped ever so slightly early on Monday in the wake of dovish comments from the European Central Bank but investors struggled for conviction ahead of a report on China’s manufacturing sector.

The common currency briefly slipped to $1.3587 from around $1.3599 late in New York on Friday after ECB President Mario Draghi said interest rates would stay low over a longer period and that large-scale asset purchases were still part of the central bank’s toolkit.

The euro has since recovered to $1.3594. As a result, the dollar index was flat at 80.367, steadying after last week’s 0.3 percent fall, its biggest decline in over a month. Against the yen, the dollar was little changed at 102.10.


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