Euro pares losses versus dollar

NEW YORK Fri Dec 7, 2012 9:49pm IST

Polluted waters of China

Polluted waters of China

Growing cities, overuse of fertilizers, and factory wastewater have degraded China's water supplies to the extent that half the nation's rivers and lakes are severely polluted.  Slideshow 

NEW YORK Dec 7 (Reuters) - The euro pared losses against the dollar in late morning trade on Friday as traders covered some short positions.

Traders cited a Market News International report that said senior European Central Bank Executive Board members, including President Mario Draghi and Bundesbank President Jens Weidmann, opposed a rate cut supported by the majority at the ECB's most recent policy meeting on Thursday.

The ECB left rates steady at 0.75 percent.

The euro was last down 0.2 percent at $1.2945. It had fallen to a session low of $1.2878 immediately after the release of U.S. jobs data that was stronger than expected.

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