The euro clung on to modest gains against the dollar early on Thursday, having pulled up from one-year lows as investors booked some profits ahead of the European Central Bank policy review.
News of a ceasefire plan in eastern Ukraine further shored up the common currency, although this is now in doubt after Ukraine's prime minister dismissed the proposal outlined by President Vladimir Putin.
The common currency has already fallen a long way, dropping from a high of $1.3701 on July 1 to $1.3110 on Tuesday. It last traded at $1.3151. The steadier euro knocked the dollar index off a 14-month peak of 83.058 to 82.838.
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