Euro Bears See Redemption as Draghi Squashes Inconvenient Rally
- Currency falls to two-week low as ECB widens scope of QE plans
- Central bank lowers forecasts for growth and inflation
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Mario Draghi has finally bought Europe some relief in foreign-exchange markets.
The European Central Bank president sent the euro tumbling to a two-week low Thursday after he revamped his quantitative-easing plan and signaled officials might expand stimulus if the global market rout continues to weigh on growth and inflation. An analyst at Bank of Tokyo-Mitsubishi UFJ Ltd. reiterated his projection for the 19-nation currency to fall to parity versus the dollar.