Euro slice gains against dollar

NEW YORK: The euro pared gains against the dollar on Tuesday after the Slovak Parliament rejected the plan to expand the European Financial Stability Facility (EFSF).

The Slovak government also lost a confidence vote but the EFSF package is expected to go through in a later re-vote because the outgoing prime minister planned to ask for help from the opposition.

The result had been anticipated after a junior party in the coalition said it would abstain.

All of the 16 other euro zone countries have already ratified the plan to give more powers to the EFSF.

The euro was last up 0.1 percent at $1.3656 on electronic trading platform EBS, after climbing as high as $1.3684 earlier in the New York session.

Copyright Reuters, 2011