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Dollar Rises Against Euro

Dollar Rises Against EuroDollar Rises Against Euro

The dollar rose as US stocks fell for the sixth straight session on worries about China’s economy and market volatility, AFP reported. With Wall Street stocks tumbling, the dollar’s rebound from steep losses came under some pressure. But the greenback was up about 0.5% against the euro in late afternoon trade, as the euro fell to $1.15 from $1.16 around the same time. Earlier in the day it had fallen as low as $1.13. The recent market turmoil, driven by fears that China’s economic slowdown is worse than anticipated, has sparked speculation that the Federal Reserve will delay lifting its benchmark federal funds rate from the zero level.

 

Financialtribune.com