Summary Euro ceded ground back to the dollar after ECB chief pledged action to boost eurozone inflation.
NEW YORK (AFP) - The euro ceded ground back to the dollar Friday after a one-day burst of energy, with European Central Bank chief Mario Draghi pledging action again to boost eurozone inflation.
Draghi said Friday that the bank will "do what we must" to lift inflation as quickly as possible, in a new sign it could boost its anti-deflation defenses.
He warned that inflation was stubbornly way below the target of 2 percent even though the bank has deployed a 1.1 trillion euros ($1.2 trillion) scheme to help lift consumer prices.
That sent the euro back down to $1.0641 after spending one day above the $1.07 line.
"With the Paris attacks and today s comments from Draghi, more stimulus next month is certain," said Kathy Lien of BK Asset management.
Draghi "confirmed that the downside risks have increased in recent months and said the central bank cannot be relaxed about low core inflation."
