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Euro lower against dollar

Euro lower against dollar

The euro was lower against the dollar Monday but hovered near a one-year high as investors await U.S. economic data and a key jobs report due later in the week.
The 16-nation euro bought $1.4628 in European morning trading, down slightly from the $1.4665 late Friday in New York.
The euro peaked at $1.4842 on Wednesday, its highest level in 12 months.
Unicredit said in a research note to clients that data on weekly jobless claims, personal income and construction outlays to be released Thursday will determine the upward ceiling of the euro's rally.
"Slightly disappointing figures should not thwart the risk-taking behavior, keeping $1.50 as a short-term target," Unicredit said.
Meanwhile, the British pound was lower at $1.5900, from $1.5938, while the dollar fell against the Japanese currency to 89.38 yen from 91.27 late Friday in New York.