Early trade in New York: dollar softens, euro struggles

27 Aug, 2014

The dollar softened on Tuesday after a run of gains while the battered euro continued to struggle on expectations of soft inflation data and more monetary easing. The dollar index, a basket of currencies traded against the greenback, was down 0.07 percent in early New York trading after touching a 2014 high of 82.613. Against the yen, the dollar was off 0.15 percent at 103.91 yen.
The euro was at $1.3198 after touching a low of $1.3178 in Asian trade, its weakest since September 9. Currency prices were only mildly affected by data showing orders for long-lasting US manufactured goods had posted their biggest gain on record in July on strong international demand for aircraft.
The euro zone shared currency was trading at 1.2086 Swiss francs, having fallen to 1.2072 on Monday, its lowest since early January 2013 on trading platform EBS. Its drop could test the Swiss National Bank's three-year-old pledge to cap the franc at 1.20 per euro.

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