(Updates prices, adds comment)
* ECB maintains easing bias
* Swedish crown falls after Riksbank extends bond-buying
* Dollar edges higher vs yen after BOJ viewed as dovish
* Mexican peso bounces as Trump says will not scrap NAFTA
* Graphic: World FX rates in 2017 tmsnrt.rs/2egbfVh
By Sam Forgione
NEW YORK, April 27 The euro dipped against the
U.S. dollar on Thursday after European Central Bank chief Mario
Draghi said policymakers did not discuss removing the bank's
easing bias on monetary policy, while the dollar jumped against
the Swedish crown after the Riksbank extended its bond-buying.
The euro initially rose to a session high of $1.0932
on language in the ECB's statement, read by Draghi, which said
the euro zone's recovery was increasingly solid and downside
risks had diminished.
But other parts of the statement and Draghi's replies to
questions stressed the barriers the ECB still faces before
beginning to tighten the ultra-loose financing conditions it has
maintained for nine years.
"Draghi wasn’t as hawkish as people had hoped," said Greg
Anderson, global head of foreign exchange strategy at BMO
Capital Markets in New York.
"Upside event risk for the euro is gone," he added, noting
that there was a tendency to bet against the euro in part given
the likelihood of centrist Emmanuel Macron defeating anti-EU
candidate Marine Le Pen in the final round of France's
The euro was last down 0.3 percent against the dollar at
$1.0875, near a session low of $1.0852.
Sweden's Riksbank extended its bond-buying and predicted its
first interest rate hike in mid-2018, later than previously
projected. That sent the dollar as much as 1.3 percent higher
against the Swedish crown to a session peak of 8.8730 crowns per
The Bank of Japan also signaled it would maintain its
massive stimulus effort, despite offering its most optimistic
assessment of the Japanese economy in nine years.
Governor Haruhiko Kuroda conceded that public perceptions of
future price increases remained subdued, which disappointed some
traders hoping for a more hawkish inflation outlook and pushed
the dollar higher against the yen.
"That lower inflation forecast would suggest continued
accommodative monetary policy," said Eric Viloria, currency
strategist at Wells Fargo in New York.
The dollar was last 0.2 percent higher against the yen at
111.22 yen after rising as much as 0.5 percent to a session high
The dollar index, which measures the greenback
against a basket of six major rivals, was last up 0.1 percent at
The dollar was down 0.8 percent against the Mexican peso at
19.0300 pesos after U.S. President Donald Trump said he
would not scrap the North American Free Trade Agreement
(Reporting by Sam Forgione; Additional reporting by Ritvik
Carvalho and Patrick Graham in London; Editing by Meredith
Mazzilli and Chizu Nomiyama)