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OctaFX.Com -Euro strengthens after Draghi comments
Euro jumps vs dollar after ECB head Mario Draghi says the bank will save the single currency
NEW YORK (AP) -- The euro rose sharply against the dollar Thursday after the head of the European Central Bank said the ECB would do whatever it took to save the single currency.
The euro jumped to $1.2286 late Thursday from $1.2160 late Wednesday. It rose as high as $1.2329, its highest point against the dollar in over two weeks.
Mario Draghi was speaking Thursday at a global investment conference at the Olympics. His comments sent stocks in the U.S. and Europe sharply higher.
Fears that Spain and Italy may need to be rescued have intensified in recent weeks. Spain's economy, the euro zone's fourth-largest, may be too big for Europe to save. Draghi's comments helped ease those concerns.
The dollar was mixed against other currencies.
The British pound rose to $1.5690 from $1.5511. The dollar fell to 0.9775 Swiss franc from 0.9878 Swiss franc and to 1.0097 Canadian dollar from 1.0145 Canadian dollar.
Jul 26, 2012 15:41
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