After a speech in London Wednesday that failed to excite investors, it was back to normal Thursday with the head of the European Central Bank (ECB) pushing down the euro with some dovish remarks at the European Parliament.
President Mario Draghi reiterated his words from the ECB's last meeting in October, saying the central bank would act by using all "instruments available" within its mandate to "ensure that an appropriate degree of monetary accommodation is maintained."
The euro dropped to a three-month low against sterling on his comments. The single currency also fell below 1.070 against the dollar at once stage during the speech, trading lower than where it reached during October's ECB press conference. It shortly regained some ground to trade at around 1.0710 versus the greenback. It had closed Wednesday's session at 1.0743.
Draghi stated Thursday that the ECB's asset purchase program is considered to be a particularly powerful and flexible instrument.