The Euro dropped rapidly against the dollar during Mr Draghi’s news conference this morning. The ECB boss announced cuts to the bank’s growth and inflation targets. He cited external factors such as protectionism, the still-uncertain nature of Brexit and vulnerabilities in emerging markets for reasons for the bad outlook.
The euro, which had already been losing value, dropped once more in the wake of Mr Draghi’s remarks.
At 2pm, the single currency was down 0.5 percent against the dollar, trading at $1.1245.
More to follow…
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