The euro and the British pound slipped against the dollar Wednesday even as markets awaited the release of new U.S. trade deficit data. The euro, which gained more than two cents against the dollar the previous day, bought US$1.2190 in morning European trading _ down from US$1.2232 in New York late Tuesday. The pound dropped to US$1.7697 from US$1.7765. The Japanese currency also lost ground, with the dollar rising to 111.36 yen from 110.90 yen. The dollar, which has been buoyed recently by positive U.S. economic data and a string of interest rate cuts by the Federal Reserve, dropped earlier this week ahead of Wednesday's trade deficit data, The Associated Press reported.
