Investing.com - The euro Wednesday retreated from one-year highs as European Central Bank officials reportedly said a speech Tuesday by Mario Draghi had been misinterpreted by the market.
The euro was off 0.07% at $1.1332 at 9:30 ET after hitting $1.1388, its highest level since June of last year.
The euro surged after Draghi’s upbeat remarks on the euro-zone recovery were taken as a possible signal of the removal of ECB stimulus measures.
Bloomberg quoted ECB sources as saying Draghi's remarks had been wrongly taken.
The speech "was intended to strike a balance between recognizing the currency bloc's economic strength and warning that monetary support is still needed," Bloomberg reported.
The pullback in the euro allowed the dollar index to recover the 96 mark.
The index was off 0.10% at 96.08.