Euro rises after comments from ECB head
NEW YORK -- The euro rose against the dollar Thursday after European Central Bank President Mario Draghi said that Spain is making progress toward getting its finances under control.
Spain is widely expected to request financial aid, but its government has been reluctant to do so. Draghi said it's up to Spain to ask for help if it needs it, but he praised the country's progress so far.
Draghi made his comments at a press conference after the ECB said it was leaving its key interest rate for the 17 countries that use the euro unchanged.
The euro rose to $1.3018 in late trading from $1.2899 late Wednesday. The British pound rose to $1.6185 from $1.6072.
The dollar fell to 78.50 Japanese yen from 78.52 yen, to 0.9308 Swiss franc from 0.9390 Swiss franc and to 98.07 Canadian cents from 98.82 Canadian cents.