LONDON (AFP) - The dollar fell Wednesday on profit-taking after gaining in Asian deals on optimism about US president-elect Barack Obama's economic stimulus plans, dealers said. In late morning London trade, the European single currency climbed to $1.3600 from $1.3531 in New York late on Tuesday. Earlier in Asian deals, the euro had dropped to 1.3493 dollars. Against the Japanese unit, the dollar eased to 93.25 yen from 93.65 yen on Tuesday. Earlier Wednesday the greenback had risen to 93.94 yen. "Markets are looking decidedly perky at the beginning of the year as concerns about credit markets and deteriorating economic conditions are pushed into the background," said Calyon analyst Mitul Kotecha. Instead investors were focusing on "expectations of the success of the massive stimulus in the pipeline globally together with the host of macro and micro measures announced over recent months," added Kotecha. Sue Voigtsberger at PNC Bank said the dollar had made earlier gains on expectations the US economy could emerge from the global recession before the other major economies. The greenback was helped by "speculation that President-elect (Barack) Obama's fiscal stimulus will provide enough impetus for the US economy to recover from its current recession," she said. "As the problems in the US were in the forefront of the global financial collapse in 2008, it is likely that they will emerge out of the recession first amongst its major trading partners." In London trade on Wednesday, the euro changed hands at $1.3600 against 1.3531 dollars late on Tuesday, at 126.61 yen (126.76), 0.9159 pounds (0.9070) and 1.4987 Swiss francs (1.5078). The dollar stood at 93.25 yen (93.65) and 1.1034 Swiss francs (1.1142). The pound was at $1.4831 (1.4914).