“The euro strengthened for a fifth day against the dollar as the European Central Bank cut its benchmark interest rate to a record 0.5 percent in line with economists’ forecasts.
The 17-nation currency gained for a fourth day versus the yen even after a euro-area report showed the manufacturing industry shrank last month. ECB President Mario Draghi will hold a press conference at 2:30 p.m. in Bratislava, Slovakia, where the policy meeting was held. Sweden’s krona weakened against all except two of its 16 major counterparts as manufacturing in the nation unexpectedly contracted….”
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