Draghi's comments push euro to one-year high

London

THE euro surged to a one-year high on Wednesday, adding to its biggest daily gain in more than a year a day earlier following a change in tone by European Central Bank president Mario Draghi.

The hints in Mr Draghi's speech to a major central bank conference in Portugal convinced investors that ECB policymakers are ready to start withdrawing the emergency stimulus for the economy that has dominated policy-making for almost a decade.