Euro recovers vs dollar but still close to 7-mth low Dollar little changed by U.S. data Dollar index close to 6-mth high (Recasts, updates prices) NEW YORK, Feb 1 (Reuters) - Stronger-than-expected euro zone PMI data pushed the euro higher on Monday, snapping four straight days of declines, but it hovered close to seven-month lows on concerns over the debt of some euro zone countries. The dollar steadied but stayed close to a six-month high versus a currency basket after Friday's stronger-than-forecast gross domestic product data indicated the United States was recovering faster than the euro zone and Japan. That helped bolster risk demand. U.S. President Barack Obama's budget projected a record deficit in 2010, but traders said it had little currency impact. U.S. data on inflation and consumer spending also had little impact. Turner was speaking after a private session on casino banking and regulation at the World Economic Forum in Davos. The Australian dollar AUD=> was last at US$0.8837 and at 79.72 yen. The Reserve Bank of Australia is expected to raise interest rates by 25 basis points on Tuesday. A Reuters poll showed all 20 economists predicting a hike AU/INT]. Markets price in a 69 percent chance of an increase.
Euro recovers vs dollar but still close to 7-mth low * Dollar little changed by U.S. data * Dollar index close to 6-mth high (Recasts, updates prices)
Euro recovers vs dollar but still close to 7-mth low Dollar little changed by U.S. data Dollar index close to 6-mth high (Recasts, updates prices) NEW YORK, Feb 1 (Reuters) - Stronger-than-expected euro zone PMI data pushed the euro higher on Monday, snapping four straight days of declines, but it hovered close to seven-month lows on concerns over the debt of some euro zone countries. The dollar steadied but stayed close to a six-month high versus a currency basket after Friday's stronger-than-forecast gross domestic product data indicated the United States was recovering faster than the euro zone and Japan. That helped bolster risk demand. U.S. President Barack Obama's budget projected a record deficit in 2010, but traders said it had little currency impact. U.S. data on inflation and consumer spending also had little impact. Turner was speaking after a private session on casino banking and regulation at the World Economic Forum in Davos. The Australian dollar AUD=> was last at US$0.8837 and at 79.72 yen. The Reserve Bank of Australia is expected to raise interest rates by 25 basis points on Tuesday. A Reuters poll showed all 20 economists predicting a hike AU/INT]. Markets price in a 69 percent chance of an increase.
