The U.S. dollar gave up some of its earlier gains against the euro Friday as stocks fell and traders parsed mixed data on
red growth and consumer confidence.
The greenback was higher versus most major counterparts other than the Japanese yen as investors' willingness to move into riskier currencies and assets took a hit from weak Japanese economic data and remarks by St. Louis Federal Reserve Bank President James Bullard, who warned that the U.S. economy was in danger of copying Japan's deflationary "lost decade."
"Broadly weaker economic data has weighed on risk appetite across the financial markets," said Kathy Lien, director of currency research at Global Forex Trading.
(EURUSD 1.3061, +0.0001, +0.0077%) fell to $1.3055, after sinking to $1.2978 and still down from $1.3094 late Thursday. The shared currency was temporarily pushed back below the $1.30 level versus the dollar a day after pressing to a three-month high at $1.3106.
The dollar index (DXY 81.47, -0.07, -0.08%) , which tracks the U.S. unit against a basket of major currencies, traded at to 81.535, down slightly from 81.559 in North American trade late Thursday. It rose as high as 81.977 earlier.
The euro recovered much of its losses since April in the past month as many markets retraced big moves made as
red the European sovereign-debt crisis came to a head. Read about markets in July.
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