Euro sharply trims losses against US dollar

NEW YORK: The euro currency sharply pared its losses against the US dollar in late afternoon trade on Tuesday.

The euro touched a high of $1.2921, shooting up from about $1.2859 in about one minute, according to Reuters charts. It last traded at $1.2887, still down 0.5 percent on the day.

The bounce coincided with comments from the European Central Bank that it took note of Cyprus's parliament vote. The ECB also reaffirmed its commitment to provide liquidity as needed within its rules.

<Center><b><i>Copyright Reuters, 2013</b></i><br></center>