Euro extends losses as Draghi's tone more dovish than markets expected
22 October 2015, 14:47
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The shared currency extended its fall Thursday after European Central Bank's head Mario Draghi took a dovish tone at a press conference signaling the bank's readiness to fire up the current asset-purchasing program.
EUR/USD hit 1.1232, down 0.97.
EUR/GBP last traded at 0.7270, down 1.13%.
"The asset purchase plans are proceeding smoothly and continue to have a favorable impact,” Draghi said.
But he added that falling commodity prices and concerns about emerging markets meant that inflation pressures remained negative. As a result, he said the ECB would re-examine its bond-buying program in December.
His press conference follows the central bank's decision to stand pat on the monetary policy.
