WSJ: Euro Rises To New Multi-Month High Against Dollar
NEW YORK (Dow Jones)--The dollar weakened further Monday, hitting a new multi-month low against the euro as the greenback's dour fundamentals overwhelmed an earlier burst of dollar-buying on news of Osama bin Laden's death.
As an early dollar rally faded, the euro jumped to its highest level since December 2009 against the greenback, just shy of $1.49. Meanwhile, the dollar fell against the yen to Y81. The U.S. currency changed hands against the safe-haven Swiss franc around 0.8636 francs, dangerously close to a record low around 0.8625.
A broad rally in risk-related assets refocused attention on the dollar's low yields and the Federal Reserve's bias for loose monetary policy.
-By Javier E. David, Dow Jones Newswires; 212-416-4564; javier.david@dowjones.com
