Euro Reaches Two-Year High After ECB Changes Nothing

wochit business
March 07, 2014 AT 4:03 AM
The euro climbed to its highest point against the dollar in over two years Friday, building on strong gains after the European Central Bank's interest-rate decision and news conference Thursday dimmed expectations for further monetary easing. The single currency surpassed $1.39 against the dollar for the first time since Oct. 31 2011, rising to as high as $1.3915 at one point. While most analysts expected that decision, many also expected the ECB to take other action to support bank funding measures—a move the central bank resisted.