BERLIN — The euro traded a little higher against the dollar on Wednesday, reversing a slip the previous day that was fueled by disappointing U.S. economic data. The 16-nation euro bought $1.4945 in morning European trading, up from $1.4928 in New York late Tuesday. The British pound was up to $1.6418 from $1.6359, and the dollar slipped to 90.66 Japanese yen from 90.74 yen. The euro traded as high as $1.4994 on Tuesday, its highest level since August 2008, but the dollar recovered as U.S. data showed that, while housing construction rose in September, an indicator of future building — applications for building permits — dropped. That sent stocks lower. The dollar tends to trade inversely to stocks. When traders receive better than expected news on the economy or corporate results, they tend to buy assets denominated in currencies other than the dollar — traditionally considered a safe haven — because they tend to be riskier but also give higher yields.

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