Euro sharply trims losses against U.S. dollar

NEW YORK, March 19 Tue Mar 19, 2013 3:25pm EDT

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NEW YORK, March 19 (Reuters) - The euro currency sharply pared its losses against the U.S. dollar in late afternoon trade on Tuesday.

The euro touched a high of $1.2921, shooting up from about $1.2859 in about one minute, according to Reuters charts. It last traded at $1.2887, still down 0.5 percent on the day.

The bounce coincided with comments from the European Central Bank that it took note of Cyprus's parliament vote. The ECB also reaffirmed its commitment to provide liquidity as needed within its rules.

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