ECB stimulus cue prompts euro gains, dollar slumps

Sep 08, 2017, 3:59 AM EDT
(Source: Alf Melin/flickr)
(Source: Alf Melin/flickr)

Euro edged up by 0.4 percent on Friday after Mario Draghi, the president of the European Central Bank, signaled that the central bank may wind down its €60bn a month bond-buying stimulus program in October.

The dollar slumped 0.2 percent against the yen to 108.32 on Friday, trading at 1.9 percent lower for the week, notes Reuters.

The investors’ decision to pump in capital into the euro was also guided by a strong Eurozone growth this year, which is set to touch 2.2 percent, the highest in a decade, writes The Guardian