RTRS: Euro turns positive vs dollar in wake of report on ECB
(Reuters) - The euro turned positive against the dollar on Tuesday in the wake of an influential U.S. think-tank report on European Central Bank monetary policy.
Hedge fund adviser Medley Global Advisors issued a report on Tuesday saying the European Central Bank was poised to raise interest rates at Thursday's meeting while building in room to tighten policy further, a source reading from the report told Reuters. For details, double-click on [ID:nN05118208]
The euro EUR= was last at $1.4220, up 0.01 percent on the day, according to Reuters data. It was down as much as 0.3 percent earlier in the New York session.
The euro is up about 6.3 percent against the dollar in 2011, largely on expectations that the ECB would raise interest rates well before the U.S. Federal Reserve does. (Reporting by Julie Haviv and Daniel Bases; Editing by Padraic Cassidy)
