The euro pared its earlier gains against the dollar Thursday after reports surfaced that the European Central Bank is considering a broad-based stimulus plan that will likely include sovereign debt purchases.The euro EURUSD, +0.00% traded at $1.2384 Thursday afternoon, down from its session high of $1.2456, but above its level of $1.2315 late Wednesday.
Investors took profits after the dollar USDJPY, +0.21% hit 120 yen, its highest level against the yen since July 2007, driving the dollar back to ¥119.76. It traded at ¥119.85 late Wednesday.
The pound GBPUSD, -0.21% eventually settled at $1.5676, around its Wednesday-afternoon level.
The ICE U.S. Dollar Index DXY, +0.13% a measure of the greenback’s strength against a basket of six currencies, ended the North American session down 0.38% to 88.6150, its lowest level in two days.
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