Draghi arrives to take part in the final European Union summit of the year at the EU headquarters in Brussels. / AFP / ALAIN JOCARD
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After European Central Bank President Mario Draghi extended monetary stimulus, strategists have come to the conclusion he's done enough to revive the economy with policies that helped push the euro down about 10 percent versus the dollar this year.Friend expects the euro to remain little changed over the next 12 months to trade at $1.07 by the end of next year, compared with $1.0945 as of 7:41 a.m. in New York.The path that made the euro a more competitive currency has been uneven. It has advanced almost 3 percent versus the dollar since Dec. 2, the day before the ECB chief cut the deposit rate and extended the bond-buying program known as quantitative easing by at least six months. Since climbing to $1.3993 in May 2014, the strongest level since Draghi took office in November 2011, the euro has slid about 22 percent. A weaker currency pushes up the price of imports, helping the central bank's efforts to boost the region's inflation rate which, at 0.2 percent, is still just a fraction of its goal of just under 2 percent.
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