Euro Faces Payrolls After Draghi Fueled Biggest Advance Since 2009

The euro clung to its biggest jump since 2009 as investors awaited a U.S. payrolls report that will be a key input for the Federal Reserve as it considers tightening policy this month for the first time in almost a decade.

The single currency surged 3.1 percent versus the dollar Thursday as the European Central Bank’s decision to boost stimulus 360 billion euros ($ 393 billion) and cut the deposit rate fell short of some analysts’ forecasts. Two-thirds of economists in a Bloomberg survey had predicted an increase in the pace of purchases.

The common currency was little changed at $ 1.0923 as of 6:42 a.m. in London from Thursday, when it soared to $ 1.0981, the strongest since Nov. 3. It bought 134.03 yen after jumping 2.5 percent to 134.13 in New York.

Source: Bloomberg

MARKET