New York, Jul 18 (IANS): The US dollar weakened in late trading on Friday amid a strong momentum in the euro.

The dollar index, which measures the greenback against six major peers, was down 0.42 per cent at 95.9450.

The euro rallied as market participants paid close attention to a key European Union (EU) summit on Friday and Saturday in Brussels, where EU leaders are expected to discuss the bloc's response to the coronavirus pandemic on the fiscal front.

In late New York trading, the euro rose to $1.1436 from $1.1378 in the previous session, and the British pound rose to $1.2565 from $1.2546 in the previous session. The Australian dollar increased to $0.7000 from $0.6967, Xinhua reported.

The US dollar bought 106.95 Japanese yen, lower than 107.37 Japanese yen of the previous session. The US dollar was down to 0.9382 Swiss franc from 0.9448 Swiss franc, and it rose to 1.3576 Canadian dollars from 1.3573 Canadian dollars.