BERLIN -- The dollar continued its gains against the euro today following signals from the U.S. Federal Reserve that its run of interest-rate cuts may be over for now.

In morning European trading the euro bought $1.5450, down slightly from $1.5461 late in New York yesterday. The British pound rose to $1.9867 from $1.9737 the night before, while the dollar purchased 104.70 Japanese yen, from 104.17 in New York the day before.

The dollar had gained some strength yesterday amid mixed economic data, which followed word the Fed might leave its string of interest-rate cuts at seven.

The Federal Reserve cut a key interest rate by a quarter-point Wednesday, a smaller move than the aggressive easing it undertook earlier this year.

Though lower interest rates can spur a nation's economy, they can weigh on its currency as traders transfer funds to countries where they can earn higher returns.

"The dollar remains on an upbeat footing as we move into the new month," said James Hughes, market analyst at CMC Markets.

"There's also a general upbeat feeling with regard to the U.S. economic outlook right now supported by the data we've seen released in recent days."