The euro fell against the US dollar, one day after hitting a 17-month high, following European Central Bank chief Mario Draghi's pledge to take action to fight deflation.
At 2200 GMT (0900 AEDT), the euro was at $US1.3870, down from $US1.3904 on Wednesday, when it had reached an intraday high of $US1.3915, a level last seen in October 2012.
The yen meanwhile gained ground, with the dollar slipping to 101.85 yen from 102.75, and the euro falling to 141.28 yen from 142.85 yen.
Draghi said in a speech for the Schumpeter economics award in Vienna that the risk of deflation in the eurozone is "quite limited".
But he said the ECB stood ready to act decisively in case inflation expectations shift down.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
But, he acknowledged, "the longer inflation remains low, the higher the probability of such risks emerging."
The British pound was slightly higher on the dollar at $1.6624, while the greenback picked up to 0.8744 Swiss francs from 0.8736 francs.
