Euro relinquishes gains, pressured by bank woes

The euro was little changed on Tuesday, retreating from a session high against the dollar as a slide in regional shares helped to stub out gains made on a bigger-than-expected improvement in German investor sentiment.

Despite a strong ZEW survey, the pair hovered in range of a one-month low hit on Monday, as investors remain cautious about the global economy given more poor earnings results from U.S. banks.

Bank of New York Mellon Corp (BK.N) on Tuesday said its profits fell by more than half in the first quarter, while State Street Corp said it saw its operating revenue fall 8-12 percent in 2009.

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- Posted: 2009-04-21 07:25:39

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