Euro hits two-month high vs dollar after ECB rate call

The euro hit the highest level against the dollar for two months on Thursday after the European Central Bank opted against cutting its main interest rate from a record-low 0.75 percent, traders said. At about 1145 GMT, immediately after the decision announcement, the European single currency jumped to $1.2652, which was the highest level since July 2. It later pulled back to stand at $1.2640, which was still higher compared with $1.2600 late in New York on Wednesday. ECB President Mario Draghi was shortly set to explain the reasoning behind the rate decision at a news conference, while markets waited to see if he would also unveil details of a bond-buying programme to help eurozone nations.