BLBG:Euro Weakens Versus Dollar After ECB Announces Three-Year Loans to Banks
The euro weakened against the dollar after the European Central Bank allotted 529.5 billion euros ($711 billion) in its second tranche of three-year loans to the region’s banks.
The common currency fell versus all but two of its 16 major counterparts. European banks were forecast to tap the central bank for 470 billion euros in three-year loans, according to the median estimate in a Bloomberg News survey of 28 economists. Banks borrowed 489 billion euros in the first longer-term refinancing operation in December.
The euro dropped 0.2 percent to $1.3428 at 10:46 a.m. in London. The common currency declined 0.1 percent to 108.14 yen after earlier rising as much as 0.4 percent.
To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net
To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net
