NEW YORK Jan 7 The euro pared losses to trade
little changed against the dollar on Monday as the New York
session began with investors adjusting positions ahead of a
European Central Bank policy meeting later in the week.
Analysts said the euro was more likely to remain under
pressure as markets refocus on the euro zone's debt crisis with
any indication of monetary stimulus or comments on economic
weakness seen pushing it lower.
But some investors speculated there was too much bearishness
and that if the ECB was not too negative, the euro could rally.
Currency speculators became net buyers of the euro for the
first time since August 2011 in the week to Dec. 31, according
to data from the Commodity Futures Trading Commission released
The euro was last down 0.05 percent at $1.3057, well
off the session low of $1.3016.