Dollar Rises Versus Euro, Yen on Taper Bets Amid Syria Tension
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The dollar gained versus the euro and yen on speculation the Federal Reserve will trim the pace of its $85 billion in monthly bond purchases this month.
The greenback reached a eight-week high versus the 17-nation currency as the prospect for U.S. intervention in Syria increased demand for safer assets. The Australian and New Zealand dollars gained as China’s service industry expanded last month. The U.S. currency pared gains versus the euro and the yen yesterday after U.S. employers added fewer workers than forecast in August, even as surveys showed economists’ retained Fed taper projections. U.S. retail sales growth quickened last month according to economists’ forecasts before the Sept. 13 report.