NEW YORK: The dollar plied back some ground against a resurgent euro on Friday, as traders took stock of a deal to save the eurozone.
"The US dollar scored marginal profits... after its shellacking on Thursday, as the market's risk aversion reached a plateau following yesterday's steep ascent," said analysts at Travelex.
After the relief of seeing the deal done, traders said they wanted to see more specifics.
"Eurozone politicians were very successful in putting a positive spin on this week's summit but there are still significant potential pitfalls in the road ahead," said Jane Foley, senior currency analyst at Rabobank.
"A handful of French banks, and some German and Italian are still widely considered to be vulnerable. Clearly this position could be worsened if contagion makes a comeback -- and this is still a significant risk."
The euro eased to $1.4147 by 2100 GMT from $1.4187 on Thursday, when the European single currency hit a eight-week high of $1.4247 on the EU debt deal.
The dollar hit 75.82 yen from 75.94 yen and 0.8633 Swiss francs from 0.8599.
The pound rose to $1.6130, from $1.6095.
Comments
Comments are closed for this article.