Reuters: US Dollar Report: Euro continues to pare gains vs dollar

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Euro continues to pare gains vs dollar Jun 6th 2012, 12:41 NEW YORK, June 6 | Wed Jun 6, 2012 8:41am EDT NEW YORK, June 6 (Reuters) - The euro pared gains against the dollar o n Wednesday after European Central Bank President Mario Draghi said at a news conference that economic growth in the euro zone remains weak and that there are increased downside risks to the economic outlook.. "Draghi very much realizes the euro zone is on the precipice of recession but doesn't seem ready to act aggressively," said Boris Schlossberg, head of research at GFT Forex. "The market is looking for three things: will he cut rates in July, will he extend the LTRO and will he suggest something is being planned for euro zone bank deposits." The euro was last at $1.2475, up 0.2 percent on the day but down from the $1.2487 it traded at before Draghi began speaking .

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