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Euro falls to session lows on comments by ECB's Draghi
May 6, 2013 / 2:40 PM / 4 years ago

Euro falls to session lows on comments by ECB's Draghi

NEW YORK, May 6 (Reuters) - 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.

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