Dollar Trades Near Lowest This Month Versus Euro on Easing Bets
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The dollar traded 0.1 percent from its lowest this month against the euro amid speculation the Federal Reserve will maintain easy monetary policy to sustain growth in the world’s biggest economy.
The greenback, which has weakened against 15 of 16 major peers this year, remained lower as comments by Federal Reserve Chairman Ben S. Bernanke yesterday added to signs the central bank will embark on a third round of quantitative easing, or QE3. The Chinese yuan, South Korean won and Philippine peso rose as Asian stocks extended a global rally. Demand for the euro was supported amid prospects European finance ministers will agree to bolster the region’s debt-crisis firewall this week.