Euro slides, weaker shares prompt profit

The euro slipped against the dollar on Thursday as weaker global shares stifled appetite for higher-risk currencies, prompting investors to book profits on the single currency's rally to a two-month high.

European shares .FTEU3 were pressured lower, taking a cue from weaker Asian markets after stellar economic growth in China in 2010 fuelled speculation that Beijing may come under more pressure to tighten monetary policy

Lingering concerns about the effectiveness of an EU rescue fund for euro zone countries struggling with debt problems also helped to keep sentiment negative for the euro on Thursday. more