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A one hundred euro bill on top of the US dollar bills, in a photo from Reuters files.
LONDON (Reuters) – The euro stabilized against the US dollar on Friday, after rising the previous day to its highest level in two weeks due to inflows at the end of the month and after news that the European Central Bank will reduce the cost of loans to banks.
Most of Europe is on Friday to mark International Labor Day, as well as many countries in Asia, but the new month brings a new set of fears to investors, as the incidence of HIV infection has risen to 3.3. millions worldwide and deaths have reached more than 230,000.
The US dollar also fell slightly against the Japanese currency, trading at 107.07 yen, although another indication of market difficulties, the Australian dollar, fell 1 percent to 0.6447, its lowest level since Tuesday.
The Canadian dollar fell 0.5 percent to 1.4016 against its US counterpart.
Analysts attribute the moves to poor stock performance in the United States.
The pound gave up some of the gains made the day before, trading 0.4 percent less against the dollar and the euro at $ 1.2550 and 87.31 pence, respectively.
Moataz Mohamed prepared for Arabic publication.
