Dollar climbs higher, euro reverses losses
The dollar edged
higher on Tuesday after upbeat U.S. data suggested the world’s biggest
economy will accelerate in 2011, helping it hold gains against the yen
and the Australian dollar.
But the dollar
eased against the euro with the single currency moving higher on steady
buying by Asian central banks and comments from a Chinese official, who
said on Monday the country would continue buying Spanish debt.
The euro had
slipped earlier, with some traders citing talk of euro-selling by
investors related to euro zone bond redemptions. The single currency
was up 0.37 per cent from late U.S. trading on Monday to $1.3400, but
traders and analysts remained sceptical about the euro’s bounce.
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