The euro lost ground against most major currencies on Friday in response to European Central Bank President Mario Draghi's statement that the central bank is ready to do anything to prevent the threat of deflation, risking Eurozone's economic recovery.
"We do not exclude further monetary easing. We will monitor developments very closely and will consider all instruments available to us," Draghi said at post-meeting press conference in Frankfurt on Thursday.
The Governing Council considered unconventional measures such as quantitative easing and negative deposit rate, during the discussion, Draghi said.
Dragi's remarks that the board was "unanimous in its commitment" to deploy "unconventional instruments" had caused a sharp fall of the single currency on Wednesday.
Traders await U.S. jobs data for March due later in day for further clues about labor market recovery. Economists expect the government's jobs report to show employment increasing by about 200,000 jobs in March following the addition of 175,000 jobs in February.
Germany's factory new order growth accelerated more than expected in February on robust domestic demand, official data showed today.
Factory orders advanced 0.6 percent from January, Destatis said. Economists had forecast orders to rise 0.2 percent in February after climbing 0.1 percent in January.
The euro declined to 1.3695 against the greenback, its lowest since February 28, and was down by 0.2 percent from Thursday's closing quote of 1.3719. An extension of bearish trend may take the euro to a support around the 1.36 zone.
The euro weakened to a 4-day low of 0.8257 against the pound, almost 0.7 percent decline from yesterday's weekly high of 0.8313. The next possible downside target for the euro is seen around the 0.82 mark.
The euro slipped to a 3-day low of 142.23 against the yen, down from Thursday's closing quote of 142.54. If the euro extends slide, it is likely to find support around the 140.00 region.
The euro that closed yesterday's deals at 1.4857 against the Australian dollar fell by 0.3 percent to hit a 3-day low of 1.4816. Further downtrend of the euro may see it facing support around the 1.47 area.
The euro reached as low as 1.5085 against the Canadian dollar, heading to pierce a 6-day low of 1.5137 hit yesterday. The euro may find support around the 1.50 mark.
