U.S. dollar falls after ECB decision
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E-mail Xinhua, July 22, 2017
NEW YORK, July 21 (Xinhua) -- The U.S. dollar traded lower against most major currencies on Friday as investors continued to ponder on European Central Bank (ECB)'s latest decision.
The ECB President Mario Draghi said on Thursday that "a very substantial degree of monetary accommodation" is still needed to support the euro area to move towards a sustained convergence of inflation rates to levels below, but close to two percent over the medium term."
The bank decided Thursday to keep key interest rates for the euro area at record lows.
Meanwhile, analysts said there appear to be growing concerns that Trump's pro-growth agenda, including tax reform, infrastructure spending and deregulation may take longer to pass than initially thought.
There are no major economic data due on Friday.
The dollar index, which measures the greenback against six major peers, was down 0.44 percent at 93.887 in late trading.
In late New York trading, the euro rose to 1.1678 dollars from 1.1625 dollars, and the British pound increased to 1.3001 dollars from 1.2976 U.S. dollars in the previous session. The Australian dollar edged down to 0.7921 U.S. dollar from 0.7961 U.S. dollar.
The U.S. dollar bought 111.07 Japanese yen, lower than 111.87 yen of the previous session. The U.S. dollar fell to 0.9440 Swiss franc from 0.9515 Swiss franc, and it edged down to 1.2534 Canadian dollars from 1.2568 Canadian dollars. Enditem
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