The euro continues to expand its losses and record the lowest level in seven months

The euro continued to fall during Friday's trading with the end of the week, recording the lowest level in seven months, and in light of the decline in demand on the European single currency after the European Central Bank's comments yesterday that showed the possibility of higher stimulus of the bank if needed.

The euro against the dollar is currently trading at 1.0907 level, after recording the highest at 1.0931 and the lowest level in seven months at 1.0903, and today's session was opened at the level of 1.0931.

European Central Bank President Mario Draghi said the bank's current monetary policy finds appropriate significantly to the current situation and that it will keep interest rates steady at their lowest level for a period of time, in light of the expectations of an average growth in addition to high rates of inflation in the coming months.

This and Draghi pointed out that the bank meeting in next December will see a new outlook for the economy in addition to the re-evaluation of the program of quantitative easing that may include an increase in the value of the program if needed, which will push the euro levels to decline with the expectations of an increase of the money supply of the dollar in the markets .

As for the dollar index, which tracks the dollar's performance against a basket of major currencies, is currently trading at the level of 98.38, after it opened today's session at the level of 98.30, while the lowest level been recorded at 98.29, after hitting a seven-month low of 98.40, as rising dollar comes in light of the great support it gained from the deterioration of the euro since yesterday's trading.