Euro fell to a nine year low against the dollar

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SHAFAQNA (Shia International News Association) – The euro fell by 1.2% against the dollar to $1.1864, marking its weakest level since March 2006. Although later on recovered slightly to to $1.19370 but recovery was not strong enough. The drop of euro followed the by European Central Bank’s president remarks, Mario Draghi saying the bank may act to simulate the economy. On Friday (2 Jan.), Mr Draghi hinted in a newspaper interview that the bank might soon start a policy of quantitative easing by buying government bonds to inject cash into the banking system, stimulate the economy and push prices higher. In his interview with German newspaper, Handelsblatt, Draghi said: “We are making technical preparations to alter the size, pace and composition of our measures in early 2015.”

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