The 16-nation euro is down slightly against the dollar, losing more of the previous day's gains when news suggested banks in the region are healthier than expected.
The euro bought $1.2205 in morning European trading Thursday, down slightly from 1.2209 late the night before in New York but more than a cent lower than its high of Wednesday.
The British pound is down to $1.4922 from $1.5081 in New York while the dollar is down to 88.34 Japanese yen from 88.49 yen the night before.
The euro gained traction Wednesday after an announcement by the European Central Bank, which suggested that banks' cash needs are easing despite lingering worries about the eurozone debt crisis.
