Euro loses ground in late London trade on strong US data

The euro weakened against the dollar in late trading, as a strong set of US economic numbers boosted both Wall Street stocks and the US currency, analysts said.

Whereas yesterday's upward revision to third-quarter US GDP had triggered worries about high inventory levels leading to a weak fourth quarter, today's data provided reassurance about the pace of the US economy in the final months of the year, said Hans Redeker, global head of FX strategy at BNP Paribas.