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Euro lower at $1.3933 in European morning trade

Euro lower at $1.3933 in European morning trade

The euro fell against the dollar Monday as investors continued to seek safety in the American currency as the second quarter earnings season gets under way.
The 16-nation euro bought $1.3933 in European morning trade, compared with the $1.4036 late Friday in New York.
The British pound traded at $1.6074 compared with $1.6192 on Friday.
Worries over the U.S. economy and labor market, as well as falling commodity prices and corporate earnings, have pushed investors into the safety of the dollar.
U.S. Aluminum maker Alcoa Inc. unofficially kicked off the earnings season with better-than-expected results last week, but a warning from U.S. oil company Chevron Corp. late Thursday put investors back on the defensive.
"Anything that fuels another round of dollar buying as traders look for safety could be precisely the sort of activity to push the euro lower still," James Hughes, a currency analyst at CMC Markets said in a Monday research note.
In other trading, the dollar bought 92.16 Japanese yen compared with 92.34 yen late Friday in New York.