On Friday, the euro retreated from a one-month high against the US dollar, as markets keep the effect of the last political decision of the European Central Bank and the comments from ECB President Mario Draghi.
EUR/USD fell 0.16% to 1.1161, retreating from a one-month peak of 1.217 the previous session.
The euro initially weakened after yesterday's decision of the European Central Bank to cut interest rates and expand the program of quantitative easing.
The ECB surprised the markets with unexpected reduction in the key interest rate to a record low level of 0.00% from 0.05%, but traders did not expect any changes.
The Central Bank also lowered the rate on deposits further into negative territory to -0.4% and lowered the marginal rate to 0.25% from 0.30%.
In addition, since April the volume of monthly program of quantitative easing was increased by ECB by € 20 billion to € 80 billion.
However, the euro recovered after Draghi said that the ECB does not expect a further reduction in interest rates, but added that this could happen.
At the same time, the US dollar found support after the US Labor Department said on Thursday that the number of initial applications for unemployment benefits for the week ended March 5 fell 18000 to 259 000 from 277 000 the previous week.
Analysts had expected a decrease by 2000 to 275 000.
The euro fell against the pound: EUR/GBP pair lost 0.14% to 0.7816.
After the ECB meeting, the market's attention shifted to the forthcoming meeting of the Bank of Japan on March 14-15. Many expect that the Japanese regulator will keep monetary policy after lowering interest rates to negative values in January, but some suggest that the bank can continue to cut rates.
Today, EUR/JPY rose 0.07% to 126.57.