NEW YORK Dec 6 The euro extended its declines against the dollar to trade below $1.30 on Thursday after comments from European Central Bank President Mario Draghi stoked expectations of an interest rate cut.
The euro fell as low as $1.2987 on Reuters data, with losses accelerating after a break below $1.30. It was last at $1.2992, down 0.6 percent on the day.
Against the yen, the euro slid to 107.03 yen, down 0.7 percent on the day.
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The Lok Sabha on Thursday backed a new bankruptcy code, a crucial step towards establishing a debt resolution regime to strengthen the hands of banks seeking to recover $120 billion in troubled loans. Full Article