MW: Dollar turns up on comments from Europe meeting
By Deborah Levine
NEW YORK (MarketWatch) -- The dollar turned higher against the euro in late morning trading on Tuesday following reports about comments from U.K. officials to European Union finance ministers. Britain's new chancellor of the Exchequer George Osborne expressed concerns about new rules to regulate hedge funds and a potential process for EU members to review the budgets of other members, according to Dow Jones Newswires. "This is the quick reason why the euro and stocks just dropped," said Andrew Brenner, head of emerging markets at Guggenheim Securities. The euro (CUR_EURUSD 1.2362, -0.0030, -0.2421%) slid to $1.2372 after being as high as $1.2444 earlier, compared to $1.2384 in North American trading late Monday. The dollar index (DXY 86.32, +0.11, +0.13%) , which tracks the U.S. unit against a trade-weighted basket of six major currencies, rose to 86.275, from 86.240 late Monday.
