The US dollar recovered against the euro on Thursday on the view that central bank monetary policy remained more favourable for the greenback, while it slipped against the Japanese yen and Swiss franc concerns about Gulf oil supplies.
The euro hit $1.10525 early Thursday, its highest since a nearly two-week high of $1.10625 on March 18 after the Fed released its latest policy statement, before erasing its gains. It last traded down 0.48 percent at $1.09150.
Analysts said the euro has seen selling pressure above the $1.10 mark on the view that the European Central Bank's new bond-buying stimulus program should weaken the currency further, while the Federal Reserve is leaning toward tightening its accommodative policies.
The dollar was last down 0.32 percent against the yen at 119.125 yen, after having earlier hit a nearly five-week low of 118.330 yen. The dollar was only slightly lower against the franc at 0.95955 franc, after having hit a nearly one-month low of 0.94910 franc.
The dollar index, which measures the greenback against a basket of six major currencies, was last up 0.21 percent at 97.168.
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