Summary Euro slipped against other currencies as air of crisis that has enveloped Europe for weeks ebbed.
NEW YORK (AFP) - The euro slipped against other major currencies Friday as the air of crisis that has enveloped Europe for weeks ebbed.
With a seven-billion-euro emergency loan for Greece approved, and the European Central Bank providing more liquidity to the country s banks, the broader sense of market risk from the euro area fell.
That allowed more focus on the fundamentals of economic growth and central bank policy.
"The dovish forward-guidance laid out by the European Central Bank may fuel a further decline in the euro-dollar rate as President Mario Draghi pledges to fully implement the quantitative easing program," said David Song, currency analyst at DailyFX.
The euro dropped to $1.0830, its lowest level since May 27. It also fell to 134.38 yen, while the dollar slipped to 124.09 yen.
The dollar also earned a boost from fresh data showing a pickup in US consumer prices. In what was taken as more support for an early Federal Reserve interest rate rise, the core consumer price index gained 1.8 percent year-on-year in June.
