Dollar Heads for Weekly Gain as Euro, Tech Shares Fall
- ECB’s Lane expressed concern about euro’s recent strength
- Mega-cap technology names slide after outsize option trades
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The U.S. dollar is on pace for its biggest weekly advance since June as strength in the euro currency ebbed and as American technology shares slumped.
The euro fell for a fourth day after reaching the highest level since May 2018 on Tuesday. That day, the shared currency began its descent after ECB chief economist Philip Lane expressed concern over its strength, spurring speculation the central bank will ease monetary policy further.