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The euro saw weakness versus other majors on Wednesday as global equities lost some steam, limiting risk appeal. The European currency dropped away from a multi-month high versus the dollar and a near-term best versus the yen.
The euro has seen choppy movement in recent days as traders continue evaluate the Dubai credit problems.
In economic news, Eurozone producer prices dropped for a tenth consecutive month in October on an annual basis as energy prices plunged notably.
The euro slipped away from a 16-month high against the U.S. dollar on Wednesday amid signs a recent rally was overdone. The European currency slipped to 1.5040 after hitting a high of 1.5143 last week.
In the U.S. news, the Automatic Data Processing report showed that non-farm private employment fell by 169,000 jobs in November following a revised decrease of 195,000 jobs in October. Economists had been expecting a decrease of about 150,000 jobs.
The euro slipped to a weekly low against the British pound, hitting as low as 0.9025. The European currency had been trending higher for about two weeks before a recent slide.
The UK economy is stabilizing and has turned a corner on the road to recovery, Bank of England's policy maker Spencer Dale said in a speech on Wednesday.
The euro slipped away from a weekly high versus the Japanese yen, falling toward 131.00. The European currency had reached as high as 131.97 earlier in the week.
In the Eurozone, the producer price index fell 6.7% year-on-year in October after falling a revised 7.6% in September, the Eurostat said Wednesday. Economists had expected a 6.8% decline. On a monthly basis, the PPI rose 0.2% in October following a decline of 0.4% in September.
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