Investing.com - The euro fell to four-month lows against the dollar in volatile trade on Thursday after European Central Bank President Mario Draghi indicated that an adjustment to the banks stimulus program could come in December.
EUR/USD hit a low of 1.0935, the weakest level since June 24, down from an intra-day high of 1.1039.
The single currency initially popped higher after Draghi said the ECB did not discuss a tapering its asset purchase program, or the possible horizon at which stimulus might end at its meeting.
But the euro quickly turned lower after Draghi indicated that an adjustment to the bank’s stimulus program could come in December, saying its assessment would benefit from new economic projections to be drawn up by ECB forecasters.
The ECB left interest rates across the euro zone unchanged at record lows of zero earlier Thursday and kept the deposit facility rate at -0.4%.
The euro zone economy is continuing to post a “moderate recovery, and a gradual rise in inflation”, Draghi said.
He added that the euro area also continued to show “resilience” to economic and political uncertainty, in the aftermath of the June 23 vote by Britain to exit the European Union.
The euro remained higher against the pound, with EUR/GBP at 0.8950 and was flat against the yen, with EUR/JPY trading at 113.55.