WORLD FOREX: Dollar Slips, But ECB Remarks Reduce Euro Gains
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NEW YORK (Dow Jones)--The dollar declined against the euro amid stronger demand for risk Thursday, but disappointing signals from the European Central Bank helped the greenback trim its losses.
"The bias for risk-seeking is still in vogue," said Brian Kim, a currency strategist at UBS AG in Stamford, Conn.
The common currency gave back some of its overnight gains when comments from ECB President Jean-Claude Trichet failed to give more a forceful indication of an exit strategy from the ECB's unconventional policy measures to combat the credit crisis.
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