Business finance news - currency market news - online UK currency markets - financial news - Interactive Investor

Business finance news - currency market news - online UK currency markets - financial news - Interactive Investor

"TOKYO (AFX) - The US dollar was lower against against major currencies in early afternoon trade here including the euro, after rallying to a seven-month high overnight, dealers said.

'The dollar took a breather here after sharp gains yesterday,' said Junya Tanase, currency strategist at JP Morgan Chase, noting the dollar's recent rally was led mainly by speculators covering their short dollar positions.

Dealers said weighing on the euro against the dollar include widespread speculation that the French will vote against the EU constitution in a national referendum Sunday and the Dutch will vote down the referendum next Wednesday."