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Euro drops to 54-month low as ECB splits from Fed

The 19-nation common currency slid for a third week after ECB President Mario Draghi said he can't rule out deflation in the euro area

Bloomberg  |  New York 

The euro slumped to the lowest in four and a half-year against the dollar after the European Central Bank signaled it will embark on large-scale government-bond purchases as the Federal Reserve moves closer to raising interest rates. The 19-nation common currency slid for a third week after ECB President Mario Draghi said he can't rule out deflation in the euro area. The yen also declined for a third week. The rouble plummeted 9.4 per cent to lead emerging-market peers lower. The dollar advanced gained against all of its 16 major peers before a report next week that may show the ...

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First Published: Sat, January 03 2015. 20:12 IST
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