The dollar remained vulnerable today after its plunge through parity with the euro as investors waited anxiously for soothing words from Federal Reserve chief Mr Alan Greenspan in a testimony later in the day.
A slew of US corporate accounting scandals and subsequent steep losses on Wall Street have frightened investors out of US assets, with a late bounce on Wall Street yesterday failing to calm nerves ahead of a spate of US corporate earnings reports.
The euro advanced to $1.0088, just below yesterday's peak and up from $1.0025 in late New York trade to bring its gains since January to nearly 13 per cent.
Dealers say the currency market is generally sceptical about the health of Wall Street, even after the Dow Jones industrial average staged a stunning comeback after diving five per cent.
The euro also rose versus the yen to 117.09 from 116.70 in late New York. The yen was hampered by wariness, albeit diminishing, that Japanese authorities may intervene to stem the yen's rise.
Ahead of Greenspan, the market has US industrial production data at 2.15 p.m. (Irish time).
Economists expect to see more evidence that the US manufacturing sector is on the mend, with forecasts showing industrial production up 0.5 per cent in June after rising 0.2 per cent in May.
Later, top US corporates including General Motors, Intel Corp and Motorola Inc will announce their second-quarter earnings.