Dollar Falls From 3-Week High as Factory Gauge Damps Safety Bid
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The dollar fell from the strongest level in three weeks against the euro as a gauge of U.S. manufacturing unexpectedly rose, damping demand for the refuge of U.S. government securities.
The 17-nation currency rose versus all of its 16 most-traded peers except Mexico’s peso after Spain’s latest banking and budget measures spurred bets the euro bloc is moving closer to curbing its debt crisis. It pared gains as risk appetite slipped and stocks trimmed an advance. The peso advanced as the Institute for Supply Management’s U.S. factory index gained last month for the first time since May.