Economics
Euro Declines to 11-Week Low Versus Dollar on ECB Bets
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The euro fell to the lowest level in 11 weeks versus the dollar and yen after European Central Bank Vice President Vitor Constancio said policy makers are prepared to add further monetary stimulus if needed.
The 18-nation currency dropped versus most of its 16 major peers as a report showed growth in the euro-area fell short of analyst estimates after ECB President Mario Draghi said last week policy makers would be comfortable adding stimulus in June. India’s rupee rallied to the highest in more than nine months before election results. The yen rose for a second day as economic growth topped forecasts while a measure of volatility rose to a one-week high.