January 31, 2018 / 7:01 PM / 3 months ago

Euro pares gains after ECB Coeuré's remarks

NEW YORK (Reuters) - The euro fell to U.S. session lows against the dollar on Wednesday, further paring its earlier gains in the wake of comments from European Central Bank executive board member Benoît Coeuré.

In an interview with Ireland’s RTÉ TV published by the ECB, Coeuré said, “If that kind of volatility would lead to an unwarranted tightening of our monetary policy, we would have to reassess and consider.”

He was referring to the recent pickup in volatility in the foreign market, where the euro has set a series of three-year highs against the greenback.

At 1:33 p.m. EST (1833 GMT), the euro hit a U.S. session low of $1.2394 before recovering. The single currency was last up 0.10 percent at $1.2413.

(In paragraph 2 of the story, ECB corrects Coeuré’s quote in transcript of RTÉ interview to say “our monetary policy” instead of “foreign monetary policy”)

Reporting by Richard Leong; Editing by Andrew Hay

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