The dollar recovered from early losses and rallied against the euro and yen on Tuesday after a slew of US economic reports bolstered optimism the recovery was gaining traction and that the Federal Reserve can slow its stimulus measures. Durable good orders increased by a better-than-expected 3.6 percent in May as demand for goods ranging from aircraft to machinery rose, the Commerce Department said on Tuesday.
The dollar index, which measures the dollar against a basket of six other major currencies, rose 0.3 percent to 82.692 for its fifth straight day of gains and remained near Monday's near three-week peak of 82.841. The dollar was up 0.1 percent at 97.78 yen, off Monday's two-week high of 98.70 but still higher on the day. The euro surrendered early gains and was last down 0.4 percent at $1.3069, though it held Monday's low of $1.3058, its weakest level since June 5.
Comments
Comments are closed.