LONDON
(Reuters) - The euro fell by as much as half a cent on Wednesday,
briefly dipping below $1.17, after sources signalled European Central
Bank chief Mario Draghi would not use his Jackson Hole appearance to
signal policy change by the bank.
Trading at
$1.1752 at 0754 GMT, the single currency fell as much as half a cent to a
low of $1.1691 from $1.1750 in the 15 minutes after Reuters reported
Draghi would not deliver a new message at the U.S. Federal Reserve
conference.
It later recovered ground to trade at $1.1734, roughly flat on the day.
The
euro has gained 11.5 percent so far this year against the dollar and is
the best performing currency in the G10 FX space with most of its gains
coming in recent months on growing bets that the European Central Bank
will start unwinding its massive policy stimulus.
Reporting by Saikat Chatterjee and Patrick Graham
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