Euro extends losses as Trichet says growth weak in 2009
NEW YORK, March 5 |
NEW YORK, March 5 (Reuters) - The euro extended losses against the dollar on Thursday after European Central Bank President Jean-Claude Trichet said inflation had cooled and euro zone growth was likely to remain weak in 2009.
The comments came after the ECB cut interest rates, as expected, by half a percentage point to 1.5 percent, a record low.
The euro last traded at $1.2510 EUR=, down about 1 percent on the day. It was around $1.2560 before Trichet began speaking at a news conference.
(Reporting by Steven C. Johnson; Editing by Chizu Nomiyama)
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