MW: U.S. dollar index pulls back as euro pares loss
By Myra P. Saefong
SAN FRANCISCO (MarketWatch) -- The U.S. dollar index pulled back from earlier gains Monday, but continued to trade slightly higher for the session as the euro regained some of the ground it lost again the greenback. The dollar index DXY -0.06% , which tracks the greenback against a basket of six rivals, was last at 79.848 after slipping to as low as 79.773, compared with 79.828 late Friday in North American trading. The euro EURUSD +0.05% bought $1.3070, down from $1.3086 late Friday. It briefly traded below $1.30 earlier Monday for the first time since late January. "The euro dollar looks to be quickly correcting to about $1.31 after getting a bit oversold on the early Monday worries about Spain," said Richard Hastings, a macro strategist at Global Hunter Securities. "Meanwhile, the U.S. data was mixed, so the market is quickly finding a balance between all the data from the U.S. and Europe."
