The euro nudged ahead against both the dollar and sterling in early deals today, as risk aversion towards US assets kept the greenback on a weak trend. At 0940, the euro stood at USD1.0275 and STG0.6450 In a note this morning, trading house UBS Warburg said, "Risk aversion remains the key theme" for the dollar, amid concerns about the effects of a possible war with Iraq. While there have been no sharp moves in dollar trading, "the downside bias is clear, especially against the European currencies," the note added. Illustrating the safe-haven status of the Swiss franc, the Swiss currency is now approaching four-year highs against the dollar, analysts noted. The dollar fell through the key psychological level of 1.42 to the Swiss franc yesterday, and remains below that level this morning. Market attention will turn later to the sole US data release today - durable goods orders for November due at 1.30pm London time, which are forecast to rise 0.6pc. However, with trading thin, little reaction is expected, analysts said. //www.fxcentre.com/