RTRS: FOREX-Dollar gains vs euro on safe haven buying
NEW YORK, Nov 3 (Reuters) - The dollar gained against the euro in late morning New York trading on Monday, touching a session high as weak U.S. economic data prompted some investors to buy the currency as a safe haven.
U.S. factory activity shrank further in October to its lowest in 26 years, according to an industry report released on Monday.
"It's counterintuitive, but this may help support the dollar even as it undermines confidence in the U.S. economy," said Michael Woolfolk, senior currency strategist Bank of New York-Mellon of the manufacturing report "The dollar has been the beneficiary in this global financial crisis."
The euro was last down 0.2 percent against the dollar at $1.2707 , near the session low of $1.2697. (Reporting by Nick Olivari and Steven C. Johnson, Editing by Chizu Nomiyama)
