Euro falls as US dollar extends recovery

London

THE euro edged lower on Wednesday as the US dollar built on its recovery from last week's three-year lows, with higher Treasury yields supporting the greenback ahead of minutes of the Federal Reserve's most recent policy meeting.

The single currency fell 0.2 per cent against the US dollar after trimming some of its losses with the release of a purchasing managers' survey showing that eurozone business growth, while losing some steam, remained robust this month.