The dollar dropped to its lowest level and the euro to its highest since September on Thursday, following upbeat comments from European Central Bank President Mario Draghi.

Speaking at a press conference, Dragi said that policy makers had unanimously agreed that there was currently no indication for a rate reduction.

As such, the ICE dollar index, which measures the greenback against a basket of six major currencies, dropped from 80.514 on Wednesday evening to 79.678 on Thursday.

The euro rose from $1.3065 to trade hands at $1.3264.

Significantly, Draghi has left the door open to future interest rate cuts after the central bank decided to stay in 'wait and see' mode at its latest monetary policy meeting.

"Risks around the economic outlook in the euro area remain on the downside," Draghi said. Nonetheless, he expressed optimism for the future, pointing out that the Eurozone's economic recovery should begin at the end of the year.

Meanwhile, the pound climbed from $1.6034 to $1.6165 overnight.

NR

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