Euro falls as traders wait for ECB plan

AP News
Posted: Jul 30, 2012 3:46 PM
Euro falls as traders wait for ECB plan

NEW YORK (AP) — The euro fell against the dollar Monday as traders waited for details of what the European Central Bank plans to do in order to ease Europe's growing debt crisis.

Last week, European Central Bank head Mario Draghi said the bank will do "whatever it takes" to save the euro. The euro jumped higher against the dollar after Draghi made his remarks Thursday.

Without any details of what the central bank plans to do, excitement about the plan has slipped. Traders will be closely watching Draghi's monthly press conference later this week for any specifics. He will speak after the European Central Bank meets to set interest rates for Europe.

The euro fell to $1.2261 late Monday from $1.2312 late Friday.

The dollar was mixed against other major currencies.

The British pound fell to $1.5706 from $1.5728. The dollar rose to 0.9796 Swiss franc from 0.9757 Swiss franc.

The dollar fell to 78.21 Japanese yen from 78.60 yen and to 1.0019 Canadian dollar from 1.0041 Canadian dollar.