Euro drops from 38-month peak against dollar

Euro tilted lower against the dollar away from December 17, 2014 highs for the second straight session, following earlier data from the euro zone, and amid a lack thereof from the US due to the Presidents Day holiday. 

As of 04:20 GMT, EUR/USD fell 0.10% to 1.2393 from the opening of 1.2408, with an intraday high at 1.2435, and a low at 1.2369. 

Earlier euro zone data showed the seasonally-adjusted reading for the current account with a surplus of 29.9 billion euros, down from 35 billion, revised from 32.5 billion in November, and missing expectations of 30.5 billion, while the seasonally-unadjusted reading showed a surplus of 45.8 billion, up from 40.1 billion in November. 

Deutsche Bundesbank released its periodic monthly report earlier today, while the Euro Group's meetings for finance ministers and economic commissioners started today, with European Central Bank President Mario Draghi participating as well to discuss various financial and government funding issues.