Euro bounces above 1.23 dollars on ECB news
The euro climbed above 1.23 dollars on Wednesday following news of lower-than-expected demand for European Central Bank three-month loans, which eased concern over the troubled banking sector. After breaking above the 1.23-dollar threshold, the euro later eased back to 1.2292 dollars, still more than a cent up from 1.2186 late in New York on Tuesday. The pound eased to 1.4975 dollars from 1.5067. Against the Japanese currency, the dollar firmed to 88.56 yen from 88.57 yen on Tuesday. The ECB