The dollar was back to its weakening ways against the euro

The dollar was back to its weakening ways against the euro Thursday after the ECB decided against cutting its key interest rates, which could keep yields on euro-based assets generally more attractive than those denominated in dollars. The US greenback had a brief rally against its European rivals Thursday morning amid rumors than UK prime minister Brown might resign. But the government quickly denied the reports as “nonsense,” and European currencies began to gain again. Also helping the euro were gains in US stock markets and oil prices, which reduced safe-haven demand for dollars. Thursday afternoon in New York, the euro was at $1.4183 from $1.4145 late Wednesday. The dollar was at Y96.56 from Y95.97, according to EBS. The euro was at Y136.95 from Y135.73, and the U.K. pound was at $1.6196 from $1.6283. The dollar was at CHF1.0690 from CHF1.0715 Wednesday.