The euro was losing some ground against the dollar on Friday after a virtual European summit during which no major decision was made on a post-coronavirus recovery plan.

Around 19:15 GMT (21:15 in Paris), the euro lost 0.16% against the greenback, at 1.1187 dollar.

"The euro largely remained on the sidelines while EU leaders held a summit to try to agree on a proposal for a €750 billion fund," said Joe Manimbo of Western Union.

No agreement was expected during this meeting, which was above all intended to allow each European leader to reveal his objectives, as well as his margins of negotiation, on this recovery which aims to support a European economy stricken.

The President of the European Council, Charles Michel, must now begin consultations with the Member States in order to present, probably before the end of June, a revised proposal for this plan to bring the Old Continent out of a historic recession.

"One of the risks, which is not specific to Europe, is that now that the major economies are deconfining and showing signs of a recovery, sometimes stronger than expected, is that politicians are tempted to do less," said Derek Halpenny, an analyst for MUFG.

The pound sterling, meanwhile, remained under pressure on Friday against the euro and the dollar, the day after a sharp decline.

This fall followed announcements by the Bank of England (BoE) and this, "despite the fact that several aspects of the decision could be interpreted as positive for the pound," said Ulrich Leuchtmann, for Commerzbank, referring to a monetary easing a little less important than expected.

But, according to him, "a relatively non-aggressive BoE also means that easing economic malaise with the help of monetary policy will not be as large in the UK as some might have hoped."