Euro edges up against dollar, buying $1.3022, as yen continues slide after intervention

Euro up slightly vs dollar, yen continues drop

BERLIN — The euro is up slightly against the dollar ahead of a summit of European Union leaders, while the Japanese yen is down further after the Bank of Japan’s intervention to rein it in.

The 16-nation euro bought $1.3022 in Thursday morning European trading, up from $1.3006 in New York late Wednesday.

European leaders are gathering in Brussels Thursday to discuss the bloc’s broader political and economic strategy, and EU President Herman Van Rompuy will update the summit on progress by a task force on economic governance.

The yen, meanwhile, continued to drop sharply against the dollar following Wednesday’s market intervention by the Japanese central bank. The dollar was up at 85.28 yen from 82.87.

Elsewhere, the British pound was lower at $1.5597 from $1.5620 overnight.