The euro's gains appeared to have stalled in the European session after being repelled by the US dollar making a resurgence ahead of the release of US users' personal spending data (PCE) later tonight.
The euro slipped slightly to trade at around 1.1120 against the greenback after hitting a nearly one-month high in the previous session.
The currency has previously recorded gains with support rather than positive developments in the Ukraine-Russia negotiations and the rising German inflation data is much better than expected.
Several European Central Bank (ECB) principals have also hinted about the possibility of a benefit rate to be implemented this year to combat the spike in inflation in the European Zone.
The depreciation was also followed by the Aussie dollar and the kiwi which continued to retreat from 4-month highs recorded this week.
Even so, investors are also cautious considering today is the last trading day for the month of March.
The US dollar traded slightly higher, showing the dollar index standing at around 98.10 in price compared to its main competitors.
While awaiting the publication of the NFP jobs report on Friday, investors are paying attention to the PCE data which is the main measure of inflation by the Federal Reserve (Fed) later this evening.
