The euro came under pressure in Asian trade on Thursday as it failed to hold on to the gains made in the wake of the European Central Bank's action to provide cheap loans to under-pressure lenders.
The euro rose in New York trade after the ECB said banks had sucked up 489.2 billion euros ($641 billion) in its first-ever three-year refinancing operation.
But the single currency soon resumed its downward trajectory and was trading at $1.3045 in Asia, down from $1.3188 in New York late Wednesday, while it bought 101.83 yen, compared with 101.88 yen in New York.
The dollar was at 78.05 yen, unchanged from New York.
Kengo Suzuki, forex strategist at Mizuho Securities, said the earlier price movement was exaggerated by thin market conditions and also reflected strong euro selling interest on rallies.
"The ECB's operation helped erase excessive pessimism over the European debt crisis, but was not sufficient to make investors more optimistic," Suzuki told Dow Jones Newswires.
The dollar was higher against other Asian currencies, rising to Sg$1.2959 from Sg$1.2928 Wednesday, to 43.70 Philippine pesos from 43.67, and to Tw$30.32 from Tw$30.25.
The greenback also firmed to 1,158.10 South Korean won from 1,147.20, to 31.33 Thai baht from 31.22 and to 9,165.00 Indonesian rupiah from 9,080.00.
