Euro gains vs dollar after Draghi comments

NEW YORK Tue Feb 12, 2013 10:18am EST

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NEW YORK Feb 12 (Reuters) - The euro briefly gained against the U.S. dollar and pared losses against the Japanese yen on Tuesday after European Central Bank chief Mario Draghi said exchange rates are as important for growth as for price stability.

He also said Spain was on the right track towards economic recovery.

The euro last traded at 125.38 yen, down 0.8 percent on the day.

The euro last traded at $1.3434, up 0.2 percent on the day, according to Reuters data.

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