Euro gives up ground vs. dollar

Euro slipped against the dollar in American trade amid a lack of data from the euro zone, and following earlier jobs data from the US, the world's largest economy. 

As of 3:54 GMT, EUR/USD fell to 1.1211 from the opening of 1.1219, with an intraday low at 1.1194, and a high at 1.1250. 

Earlier U.S. data showed unemployment claims rose less than expected last week, while the goods trade deficit widened unexpectedly in April, after the Federal Reserve released the minutes from the May 2-3 meeting, at which policymakers opted to hold interest rates at a range of 75% and 1%. 

Investors now await the second reading for US GDP growth for the first quarter, expected to show a 0.9% growth, up from 0.7% in the preliminary reading, the lowest in three years, which made the Fad delay increasing interest rates in the May meeting to make sure the slowdown was transitory and not structural.

Otherwise, European Central Bank president Mario Draghi spoke in Madrid about the close monitoring of financial risks by the ECB, after releasing its financial stability assessment report.

Draghi also pointed to marked improvements in the euro zone recently, saying that current estimates for side effects reflect no need to change previous projections, while negating the existence of a borrowing-induced bubble, asserting there might be side effects for the monetary easing program, but positive effects are more dominant, as basic factors for inflation remain limited.