Euro eases against dollar

The euro eased against the dollar amid lingering concerns over the European debt crisis, a reversal after weak US economic indicators sent the greenback lower at the end of last week, dealers said.

The euro fetched $1.4264 in Tokyo afternoon trade, down from $1.4317 in New York late Friday. The single European currency fell to 115.24 yen from 115.61 yen. The dollar inched up to 80.79 yen from 80.77 yen.

“Investors moved to reap profits following the euro’s rise against the dollar late last week,” said Dai Sato, dealer at Mizuho Corporate Bank.

“The dollar was sold after weak US economic indicators gave rise to a view that the Federal Reserve may delay steps to bring its monetary policy back to normal from the current ultra-expansionary phase,” he said.

The dollar began falling on Thursday after a report showed US jobless claims rose after two weeks of declines.