BERLIN (AP) - The euro is trading around a new five-month high against the dollar after downbeat economic data reinforced worries about the weakening U.S. recovery.
The euro rose to $1.3623 before settling back to $1.3614 in Wednesday morning European trading.
That was up from its previous five-month high of $1.3595 the previous day and the $1.3567 it bought in New York late Tuesday.
The dollar has declined recently because investors expect the Federal Reserve will take more action to support the U.S. economy — effectively bringing down interest rates and making the U.S. currency less appealing to investors.
The British pound was up Wednesday to $1.5851 from $1.5793. The dollar fell to 83.52 Japanese yen from 83.93 yen.
