NEW YORK: The euro rose for a third straight session against the dollar on Friday, with investors encouraged to push it higher after the European Central Bank showed no sign of stemming the single currency's appreciation. At a press conference on Thursday, ECB President Christine Lagarde said the bank is not targeting exchange rates. She also struck a less dovish tone on the euro zone economy, as the ECB lifted its growth forecast for 2020.
After Lagarde's briefing, sources said policymakers had agreed to look through the euro's rise, judging it was broadly in line with economic fundamentals. In mid-morning trading, the euro rose 0.3% to $1.1840. It reached $1.1917 on Thursday, a one-week high.
The dollar index, which tracks the greenback against other major currencies, slipped 0.1% to 93.277. The index though was poised for a second week of gains. The dollar was little changed against the yen at 106.12 yen.
Elsewhere, the pound slipped 0.1% against the dollar to $1.2792, and sank to a fresh 5-1/2-month low of 92.90 pence versus the euro, adding more losses after the heaviest sell-offs seen this year sent the pound falling nearly 2% against the euro on Thursday.
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