Euro falls ahead of European Central Bank meeting

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Associated Press

Posted on September 4, 2012 at 12:00 PM

Updated Tuesday, Sep 4 at 12:01 PM

NEW YORK (AP) — The euro is falling against the dollar ahead of a key European Central Bank meeting Thursday.

Traders are waiting to see if the central bank will offer any details on a plan to help ease Europe's debt crisis. ECB President Mario Draghi said in July that the bank will do whatever it takes to save the single currency, but offered no details.

Draghi canceled a trip to an annual conference of central bankers in Jackson Hole, Wyo. last week. The cancellation boosted hopes that the central bank is working on a plan to help ease Europe's debt crisis.

The euro slipped to $1.2562 in afternoon trading from $1.2597 late Monday. The British pound fell to $1.5873 from $1.5892.

The dollar rose to 78.41 Japanese yen from 78.27 yen.

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