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The dollar index hit a three-month low on Monday, hurt by worries that the US economy's recovery is losing steam, while the high-yielding Australian dollar reached a three-month high, buoyed by a rise in equities. The dollar has been hobbled by concerns over the US economy after recent economic data undershot market expectations, while European data and many company results have been stronger - keeping investors buying riskier assets.
The dollar index, which measures the greenback's value against a basket of currencies, hit a three-month low of 81.354 , dipping below support near 81.44, which is roughly a 50 percent retracement of its November to June rally.
By 1055 GMT, it was at 81.389, down 0.2 percent on the day. The euro was up 0.2 percent from late US trading on Friday to $1.3072, near a three-month high of $1.3107 marked last week. Sterling hit a six-month high versus the dollar of $1.5820 and outpaced the euro, rising to a four-week high of 82.64 pence.
The dollar also fell against the high-yielding Australian and New Zealand dollars, with the Aussie hitting a three-month peak at $0.9136. They were buoyed by gains for global equities, which rose 0.9 percent. The yen slipped broadly and pulled back a bit.

Copyright Reuters, 2010

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