NEW YORK (AFP) - The euro strengthened slightly against the dollar Friday after the European Union announced that only eight of 91 banks had failed stress tests.

Around 1605 GMT, the euro was trading at $1.4172, compared to $1.4141 late Thursday.

President Barack Obama stressed Friday that the US fiscal problems were not as bad as those threatening the stability of the eurozone, saying fixing the deficit does not require "anything radical."

"Contrary to what some folks say, we're not Greece. We're not Portugal," he said, discussing the political battle over the US government deficit.