Euro sharpens decline to seven-month low

Euro kept falling on Friday for the second session, hitting a seven-month low as the dollar kept rising against major rivals, and due to negative effects from ECB's remarks yesterday. 

EUR/USD last traded at 1.0874, down from the opening of 1.0930, with an intraday high at 1.0931, and a low at 1.08769. 

Euro's drop comes after European Central Bank's president Draghi said interest rates will remain low for a longer period of time, and the bank will revise its economic forecasts in the December meeting. 

On the other hand, investors moved to dollar markets, amid expectations of higher Fed interest rates before the year end, which would widen the gap between its policy and the ECB's. 

The dollar index, tracking the greenback's performance against a basket of six major peers, rose to 98.72 from the opening of 98.30, with an intraday low at 98.30, and an eight-month high at 98.75, heading for the fourth weekly profit in a row.