The euro trimmed its decline versus the dollar Wednesday after falling to a seven-month low following a news report that said the European Central Bank was considering a range of further monetary policy measures to shore up the eurozone economy.The drop in the euro tracked a fall in German government yield bonds after news reports that the European Central Bank was considering further measures to shore up the eurozone economy.
The two-year yield on German government debt initially fell further to negative 0.4%, taking the euro EURUSD, -0.0094% which is closely correlated with it to trade as low as at $1,057 in early trade. The currency was trading at $1.0619 Wednesday, from $1.0654 late Tuesday.
The U.S. dollar trimmed earlier gains, with the ICE U.S. Dollar Index DXY, -0.03% rising 0.3% to 99.82. In early trade the index traded above 100.
The dollar USDJPY, -0.11% rose to ¥122.75 from ¥122.43 late Tuesday in New York
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