The euro fell to its lowest level relative to the dollar in three months Wednesday after Federal Reserve Chairwoman Janet Yellen told lawmakers that a December interest-rate increase is still on the table.The euro EURUSD, +0.0276% traded at $1.0861 late Wednesday in New York, down 0.9% from $1.0967 late Tuesday.
The buck also strengthened against the yen USDJPY, -0.09% trading at ¥121.54 late Wednesday after the data, its highest level since late August. That is a gain of 0.5% from ¥121.11 late Tuesday. The pound GBPUSD, -0.0325% weakened to $1.5382 late Wednesday, down from $1.5423 Tuesday.
The euro has declined over the past few weeks since Draghi said the ECB would likely expand its asset-purchases program to help combat persistently weak inflation in the eurozone.
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