Euro lower after better US data

The dollar is building on gains against the euro after upbeat reports on jobs and the U.S. services industry helped it stem a recent slide.

The 16-country euro bought $1.3128 in Thursday morning European trading, down from $1.3172 in New York late Wednesday. The British pound slid to $1.5836 from $1.5898.

The market's focus has switched recently from Europe's debt troubles to worries about slowing growth in the United States, the world's largest economy.

The European Central Bank and Bank of England are both expected to leave interest rates untouched later Thursday. Attention will be focused on ECB President Jean-Claude Trichet's assessment of the eurozone outlook.

The dollar was unchanged Thursday against the Japanese yen at 86.23 yen.