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Euro cuts gains vs dlr in volatile trade

Mon Mar 17, 2008 6:17am EDT

LONDON, March 17 (Reuters) - The euro pared gains versus the dollar on Monday, beating a retreat from record highs in volatile activity punctuated by jitters over what central banks might do to quell the dollar's sharp losses. By 1013 GMT, the euro stood at $1,5747, up almost half a percent on the day after earlier hitting a record high at $1.5904 EUR-.

Currencies

"It's a thin market, a bit of profit taking, fears of intervention... It's general market nervousness, 30-40 points off in this market isn't very much at all," a London-based trader said.

There has been no intervention in currency markets from central banks, traders said, although they are on high alert.

(Reporting by Toni Vorobyova and Veronica Brown)

Currencies


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