By Deborah Levine
NEW YORK (MarketWatch) -- The dollar gave up earlier gains against the euro, as lingering concerns that the Federal Reserve will engage in quantitative easing overshadowed Moody's Investors Service downgrading troubled Irish lender Anglo Irish Bank's ratings. The euro (EURUSD 1.3462, -0.0017, -0.1261%) briefly topped $1.35, compared to $1.3486 in North American trade late Friday. It recently traded at $1.3482, after falling to $1.3424 earlier. The dollar index (DXY 79.39, -0.01, -0.01%) a measure of the U.S. unit against a basket of major rivals, also turned lower, to 79.301, down from 79.333. The euro fell earlier after the Moody's downgrade. "Investors have turned bearish on the greenback as speculation mounts that the Fed will increase the monetary base to stimulate the U.S.'s lackluster economic recovery," said Brian Dolan, chief currency strategist at Forex.com.Q
