NEW YORK Dec 6 The euro erased gains against the dollar in early trade on Thursday after European Central Bank President Mario Draghi started his news conference following the bank's decision to keep interest rates on hold.
Draghi said economic weakness in the euro zone is expected to extend until next year and that inflation is expected to fall below 2 percent in 2013.
The euro traded as low as $1.3059, and was last at $1.3069, little changed on the day.
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The NSE Nifty fell 3.4 percent on Thursday to the lowest since May 2014, its biggest daily fall in nearly six months as fears of a slowdown in the global economy hammered markets worldwide. Full Article