Euro hits three-week high against dollar

Euro tilted higher in American trade to August 28 highs against the greenback, after European Central Bank President Mario Draghi called for more measures to remove bad loans for European banks in earlier remarks.

As of 03:59 GMT, EUR/USD rose 0.08% to 1.1692, with a three-week high at 1.1724, and a session-low at 1.1667. 

European Council President Donald Tusk called on the 28 EU members to hold an emergency meeting to hammer out a Brexit deal before the deadline, so that Britain can have an organized exit by March 19. 

On another note, European trade commissioner Cecilia Malmström called the latest US tariffs on Chinese products a regrettable escalation of the ongoing trade war between the world's two largest economies, adding that trade wars entail widespread damages. 

Otherwise, an index tracking US housing sector steadied at 66 for the day, hours before data on housing starts and building permits. 

The White House announced new 10% tariffs on $200 billion worth of Chinese imports, to be increased to 25%, after the US already imposed 25% tariffs on $50 billion worth of Chinese imports, with China retaliating with tariffs on $60 billion worth of US products. 

President Donald Trump threatened to impose new tariffs on $267 billion worth of Chinese imports if Beijing retaliated to the latest ones. 

US trade secretary Wilbur Ross said China "is out of bullets" to retaliate against US tariffs, noting that the measures are intended to change Chinese behavior, with close studying to guarantee limited increases to inflation.