Dollar Falls to 2-Month Low Versus Euro on Economy, Debt Views |
Bloomberg - Jan 19, 2011 |
The dollar fell to the lowest in almost two months against the euro amid signs the U.S. economic recovery will remain sluggish and speculation European officials are addressing the region’s debt crisis.
The U.S. currency weakened against 13 of its 16 most-traded counterparts as housing starts declined to the lowest level since October 2009 and before data tomorrow that may show continuing jobless claims increased. The Swiss franc fell to a one-month low against the euro after the country’s economy minister said he is “concerned” about the currency’s strength. The yuan reached a 17-year high as Chinese President Hu Jintao meets with President Barack Obama at the White House.
“I still predict a pretty slow recovery with dollar weakness sustaining until you see somewhat more of a shift in Federal Reserve policy,” said Fabian Eliasson, head of U.S. currency sales at Mizuho Financial Group Inc. in New York.
Read Full Article from Bloomberg
- Posted: 2011-01-19 10:57:53
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