Euro Hits 2-Month High After ECB Keep Interest Rates Unchanged

The euro rose on Sept. 6 after the European Central Bank (ECB) left interest rates unchanged, but gains looked fragile on concerns the bank's plan to stem the debt crisis, set to be announced later in the day, may fall short of expectations.

The single currency rose to $1.2652, its highest since early July, from around $1.2615. Some in the market had been bracing for an interest rate cut by the ECB to support flagging growth in the euro zone.

The euro rallied on Sept. 5 after a string of leaks from euro zone officials made markets more confident that the ECB President Mario Draghi will back up his pledge to do "whatever it takes" to save the euro.