Euro pauses for breath as risk appetite wanes

The euro traded at around $1.175 for the majority of the week while the yen also hovered around the 118 yen per dollar level.

"It appears that some players don't seem to have an awful lot of risk appetite," said Jane Foley, currency strategist at Barclays Capital in London. Although analysts said the recent trends are likely to resume in the near future, last week's pause could result in less volatile trade going forward. "With regards to euro/dollar the consensus is for further upside," said