Euro slips on EU bank jitters, payrolls awaited

LONDON: The euro slipped to a session-low versus the dollar on Friday, dogged by concerns that European banks were struggling as the euro debt crisis festers, while investors braced for the possibility of strong US employment data later in the day.

Some in the market said a European Union draft report outlining measures to deal with weak banks pushed the euro to the day's low around $1.4310.

Stop-loss orders triggered around $1.4330 added to the euro's selling momentum, but traders cited bids around $1.4300 and below, which stemmed a further move lower.

Few investors were keen to take aggressive positions in the euro ahead of US non-farm payrolls at 1230 GMT, which are expected to show a strong reading following a big boost in private jobs on Thursday.

Copyright Reuters, 2011