NEW YORK May 6 The euro extended its losses
against the dollar to hit a session low in mid-morning trade on
Monday after European Central Bank President Mario Draghi said
the bank is watching economic data and is ready to act again.
The euro fell as low as $1.3065, according to Reuters
data, and was last at $1.3066, down 0.4 percent on the day.
It also hit a session low against the yen at 129.76 yen
and was last at 129.81, down 0.1 percent on the day.
The ECB cut its benchmark refinancing rate by 25 basis
points to 0.5 percent last Thursday. The euro fell sharply after
Draghi, in a post-meeting press conference, said that the bank
is technically ready for negative deposit rates.