Merchants are hoping for a Valentine’s Day validation.Retailers and others are looking for any signs that an economic comeback is truly mounting.BERLIN (AP) — The euro is largely holding on to gains it made against the dollar after manufacturing reports from the U.S. and China helped calm fears of a slowing global recovery.
The 16-nation currency was down only slightly to $1.2788 in European trading early Thursday from $1.2798 in New York late Wednesday. It gained more than a cent on Wednesday as the U.S. and Chinese reports helped turn investors away from traditional safe havens such as the dollar.
The European Central Bank holds its monthly monetary policy meeting later Thursday. It is expected to leave interest rates untouched but may raise its economic forecast.
The British pound slipped Thursday to $1.5403 from $1.5446. The dollar was down to 84.13 Japanese yen from 84.46 yen.
