Dollar Ends First Week of 2013 Higher Versus Euro on Fed Outlook
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The dollar closed higher versus the euro in the first week of the year after the Federal Reserve suggested bond-buying operations may end in the middle of 2013 and concern grew the U.S. will struggle to reach a debt accord.
The yen fell for an eighth week, its longest losing streak in 24 years, as Japanese Prime Minister Shinzo Abe reiterated his goal of weakening the currency and boosting inflation. The euro pared losses yesterday as a higher-than-forecast U.S. unemployment rate spurred speculation the Fed won’t hurry to end its quantitative-easing stimulus. The European Central Bank meets Jan. 10.