The euro lost ground against the dollar after profit taking

Forex News

The euro fell back against the dollar Thursday with the profit taking of the operators, after brièvemen ...

The euro fell back against the dollar Thursday with the profit taking of the operators, after briefly above $ 1.45 the day before, in a sluggish market during the late summer.

Around 0600 GMT (0800 Paris), the euro bought 1.4413 dollars against 1.4428 dollars at 2100 GMT Wednesday.

The euro was steady against the yen at 110.46 yen against 110.45 yen late Wednesday.

The dollar regained some ground against the Japanese currency to 76.64 yen against 76.54 yen Wednesday.

"The euro is mounted Wednesday, so take the opportunity to investors to take profits," said Yuzo Sakai at Tokyo Forex and Ueda Harlow.

The foreign exchange market remained fairly quiet, however, while many operators are absent during the holidays and the Asian equity markets lost some ground on Thursday.

Overall, "global markets may be more stable than last week, but the tone remains fragile," noted analysts Wednesday Brown Brothers Harriman.

The markets were watching a possible intervention by Japan after its finance minister, Yoshihiko Noda, said he was monitoring the market "closely."

The Japanese authorities are concerned over the high yen, which is considered a safe haven, which weakens the Japanese economic recovery after the earthquake, the tsunami and the nuclear accident in Fukushima.

Indeed, the yen remained near its highest level since World War II against the dollar, recorded March 17 at 76.25 yen to the dollar.

For its part, the Swiss National Bank (SNB) decided Wednesday to step up measures to counter the strong Swiss franc, another safe haven, with a third operation in 15 days of injection of liquidity into the financial system.

These ads do not impress markets: shortly after the franc "rose as the SNB has not announced its tie to the euro, despite rumors to that effect," said John Kyriakopoulos at National Australia Bank.

By 0600 GMT, the Swiss franc retreated against the euro, Swiss franc and 1.1447 against the dollar at 0.7942 francs.

The British pound remained stable against the euro at 87.22 pence, and lost ground against the dollar at 1.6525 dollar, despite rising unemployment in the UK over the three months ended in June, surprise and the unanimous vote on keeping the rate of the Bank of England (BoE) to 0.5% in August. Against the dollar, the British currency returned to levels seen since early May.