Dollar slips but stays above lows

The dollar eased but stayed above record lows against the euro and a basket of major currencies today as investors awaited key…

The dollar eased but stayed above record lows against the euro and a basket of major currencies today as investors awaited key economic data later this week for more clues to the health of the US economy.

The euro trimmed losses made after European officials increasingly voiced their concern for the greenback's weakness, but it stayed away from its all-time highs against the dollar.

The dollar has rebounded broadly since the start of the week from a sell-off prompted by a hefty Federal Reserve interest rate cut last month and expectations of more monetary easing.

The euro rose 0.14 per cent from late US trade last night to $1.4169, having retreated from a record high of $1.4283 hit on electronic trading platform EBS earlier this week.

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The dollar index, a gauge of the greenback's value against a basket of six major currencies, slipped 0.11 per cent to 78.213, but was off a record low around 77.660 touched on Monday.

The dollar was steady at 115.77 yen and the euro rose 0.2 per cent to 164.05 yen.