Euro rises as ECB's Draghi surprises traders

London

THE euro rose as European Central Bank (ECB) president Mario Draghi expressed optimism about inflation and the economy, surprising some investors who had expected him to do more to talk down the single currency.

Speaking in Frankfurt after the ECB kept its main interest rates on hold, he predicted inflation would pick up in the second half of this year and improve through 2017 to 2018, while pointing to an improvement in eurozone financing conditions.