Economics
Dollar Near Six-Week High Against Euro on Bets Fed Set to Taper
This article is for subscribers only.
The dollar traded near the strongest in more than six weeks against the euro amid bets the Federal Reserve will slow asset purchases on signs the world’s biggest economy is accelerating.
The greenback rose versus all of its 16 most-traded peers last week as U.S. retail sales unexpectedly gained and a consumer-confidence gauge climbed. The euro dropped against the dollar by the most in almost two months as the currency bloc’s economy shrank for a sixth straight quarter. The dollar declined against the yen today, retreating from a more than four-year high. Fed Chairman Ben S. Bernanke testifies to Congress this week on the economic outlook.