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Euro backs off gains, slips below $1.37

Euro backs off gains, slips below $1.37

The euro has backed off two-month highs against the dollar ahead of the release of U.S. economic growth data, while the yen has recovered some ground after falling after a cut to Japan's credit rating.
The 17-nation euro bought $1.3690 in Friday morning European trading, down from $1.3729 in New York the previous afternoon. Earlier Thursday, it rose as high as $1.3759.
The dollar slipped to 82.62 yen from 82.82 yen. It had gained on Thursday after Standard & Poor's, citing extensive debt, cut Japan's credit rating.
U.S. data on Friday could help the dollar. Economists expect the government to report that the economy grew at an annualized rate of 3.5 percent in the fourth quarter.
In other trading, the British pound dropped to $1.5877 from $1.5935.


Updated : 2021-05-15 15:53 GMT+08:00