Euro steadies ahead of ECB meeting

London

THE euro steadied on Monday ahead of a meeting of the European Central Bank (ECB) on expectations that officials are beginning to consider reining in the volume of extra emergency aid they give to the euro zone economy next year.

The dollar has had its best fortnight for more than a year against a basket of currencies - up 2.5 per cent since the start of October - but the shift upwards in US bond yields behind that move looks to be running out of steam.