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. Last Updated: 07/27/2016

Euro Staves Off Fall




LONDON -- The euro managed to stave off a fall below parity with the dollar Wednesday but could not completely shake off the downside amid relative growth prospects for the United States and the euro zone.


Early in European trading, Germany reported an 8.2 percent jump in December import prices, the biggest rise in 15 years, rekindling talk of an imminent European Central Bank interest rate increase.


The euro retreated against the dollar after gaining half a cent on the day to $1.0053 and was within half a cent of its record low of $0.9985 set Tuesday.


ECB chief economist Otmar Issing was quoted by German weekly Die Woche as saying the central bank had no target levels at which it would automatically intervene, even if the euro dipped below parity.