Euro rises after ECB keeps rates unchanged

Euro rises vs dollar as ECB keeps rates unchanged; Draghi says recovery likely in late 2013

Associated Press

NEW YORK (AP) -- The euro rose against the dollar Thursday after the European Central Bank left its benchmark interest rate unchanged at a record low 0.75 percent.

In a press conference, ECB President Mario Draghi said that all members of the central bank's policy committee agreed to keep rates unchanged. He also said that he expects the economy in the 17-country bloc that uses the euro to recover slightly in late 2013.

The euro rose to $1.3254 in late trading Thursday from $1.3053 late Wednesday.

The British pound rose to $1.6153 from $1.6016.

The dollar fell to 0.9145 Swiss franc from 0.9260 Swiss franc and to 98.42 Canadian cents from 98.76 Canadian cents.

The dollar rose to 88.19 Japanese yen from 87.75 Japanese yen.

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