Forex: EUR/USD soars as Draghi speaks

FXstreet.com (Córdoba) - The euro broke to the upside versus the dollar and extended gains to a fresh 1-week high as ECB President Draghi said eurozone economy should gradually recover in 2013. He also reiterated that Risks for euro area remain on the downside but inflation risks area broadly balanced.

EURUSD rose above the 1.3140 resistance area, previous weekly high, and jumped to a high of 1.3178 in recent dealings. At time of writing, EURUSD is quoting at the 1.3170 zone, recording a 0.8% daily gain while Draghi addresses journalists' questions. Meanwhile in the US, initial jobless claims came in higher than expected.