Dollar Falls on Euro Strength After ECB Meeting as Rates Move

Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound, and Chinese 100 yuan banknotes are seen in this picture illustration on Jan. 21, 2016. Jason Lee/Illustration/Reuters

NEW YORK/LONDON—The euro rose sharply against the U.S. dollar on Thursday as foreign currency traders sorted through moves in the interest rate markets and comments by the European Central Bank President Christine Lagarde.

The euro rose nearly 0.7 percent to at $1.168 at 1425 GMT. The dollar index of major currencies fell 0.6 percent to 93.3560.