Euro Falls Versus Dollar as U.S. Economic Data Trails
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The euro fell against the dollar after U.S. purchasing managers data and consumer sentiment trailed forecasts, crimping demand for riskier assets.
The shared currency pared declines after a stress test showed Spanish banks have a combined capital shortfall of 59.3 billion euros ($76.3 billion), less than earlier estimates amid speculation a financial bailout will be sought. The U.S. currency strengthened versus most of its 16 major counterparts after the Institute for Supply Management-Chicago Inc. said its business barometer fell for the first time in three years, signaling contraction. China’s yuan rose to the strongest versus the dollar since 1993.