BS: Euro levels out against dollar after sharp losses
The euro has leveled out against the dollar after tumbling when a weaker outlook from the U.S. Federal Reserve and unpromising signals from China and Britain curbed investors' appetite for risk.
The European currency bought $1.2887 in Thursday morning European trading, compared with $1.2882 in New York late Wednesday -- when it lost about 3 cents.
The dollar surged as investors sought access to one of the world's favorite safe places to park funds, short-term U.S. Treasurys, amid suggestions of a slowing world recovery.
The British pound was barely changed at $1.5673, compared with the previous night's $1.5672.
The dollar was up to 85.48 Japanese yen from 85.24 yen after falling to a 15-year-low Wednesday against the currency, another traditional safe haven.
