Euro drops versus U.S. Dollar as Mario Draghi claims further rate cuts

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Source: Bloomberg
© Scanpix/RS
The European currency declined against the U.S. Dollar on Tuesday as President of the European Central Bank Mario Draghi said that policy makers are ready to lower the benchmark interest rate further in case of the deterioration in the economy. The shared currency fell 0.3% to $1.3076 at 5 p.m. in New York, while it was at 129.88 yen.

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Tue, 07 May 2013 10:51:03 GMT

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