Euro rises to session high on ECB Nowotny's comments

LONDON Fri May 3, 2013 2:55am EDT

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LONDON May 3 (Reuters) - The euro rose to a session high against the dollar on Friday after European Central Bank policymaker Ewald Nowotny said the market was over interpreting recent comments about possible negative interest rates.

The euro was up 0.3 percent on the day at $1.3102, climbing from around $1.3072 before the comments, although offers to sell at around $1.3115/20 are likely to check gains.

The single currency came under pressure on Thursday after ECB President Mario Draghi said the bank is technically ready for negative deposit rates and noted downside risks to the economy.

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