2014.07.1023:33:13UTC+00Euro shifts 3-day gain on Portugal bank woes

The euro ended its three-day advance against the US dollar as a Portuguese banking firm missed debt payment, escalating woes the region’s economy would still be vulnerable to shocks as it came from the sovereign-debt crisis.

The 18-member shared currency shortly cut back losses following a European Central Bank official said there was no urgency for further measures to back the economy.

“There’s concern over what’s going on in Portugal about the bank failure -- the market is in a risk-off mode. The pressure on euro has been limited. I don’t think the policy makers will let it get out of control,” said Sireen Harajli, Strategist at Mizuho Bank Ltd.

The euro dropped 0.2% to $1.3609 at 5:00 p.m. (New York time) following it slid 0.4%, the largest decline since July 3. The Japanese yen climbed 0.5% to ¥137.91 per euro.