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Home BUSINESSU.S. dollar rises against euro on ECB President's comments
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Sat, 10 May, 2014 12:00:52 AM
FTimes- Xinhua Report, May 10
 
File picture of Mario Draghi, President of the European Central Bank (ECB). Photo AFP - Lehtikuva
The U.S. dollar was traded mixed against major currencies Thursday and it rose against the euro after European Central Bank (ECB) President Mario Draghi indicated the central bank may loose monetary policy in June if needed.
     
The ECB decided to keep interest rates unchanged at 0.25 percent at a regular monetary policy meeting held Thursday.
     
The euro fell from a more than two year high against the dollar as Draghi said following the meeting that "the Governing Council is comfortable with acting next time, but before we want to see the staff projections that will come out in the early June."
     
Federal Reserve Chair Janet Yellen reaffirmed the U.S. central bank's policy stance in her testimony the Senate Budget Committee Thursday, saying that a high degree of accommodative policy would remain warranted. The dollar responded little to Yellen's dovish tone.
     
Meanwhile, the Japanese yen weakened on encouraging data from China. China's exports went up 0.9 percent year on year in April and imports rose 0.8 percent, both rebounding from big slumps in the prior months, Chinese customs data showed Thursday.
     
On the economic front, the number of Americans who initially applied for jobless benefits last week dropped 26,000 to a seasonally adjusted 319,000, the U.S. Labor Department said Thursday.
   
 In late New York trading, the euro dropped to 1.3853 U.S. dollars from 1.3916 dollars of the previous session, and the British pound decreased to 1.6943 U.S. dollars from 1.6960 dollars. The Australian dollar climbed to 0.9376 U.S. dollar from 0.9340 dollar.
   
The U.S. dollar bought 101.49 Japanese yen, lower than 101.78 yen of the previous session. The greenback moved up to 0.8794 Swiss franc from 0.8759 Swiss franc, and it moved down to 1.0820 Canadian dollars from 1.0895 Canadian dollars.  
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