(RTTNews) - The dollar continued to wobble versus other major currencies on Friday, nearing its lowest in a decade versus the Swiss franc while hovering near a recent 5-month low against the euro.
Another batch of economic news from the housing front may provide clues about the ailing sector. Durable goods data is also on tap this morning, and may shed some light on manufacturing activity.
Lingering economic weakness has fueled speculation that the Federal Reserve is preparing a second round quantitative easing measures. The central bank has few arrows left in its quiver, having long ago lowered interest rates to a record low near zero.
The dollar continued its dramatic slump versus the safe haven Swiss franc, dropping to a 2-year low of .9795. A move below 0.9645 would take buck to its lowest in more than a decade.
Dollar weakness has contributed to the rise of gold, which breached the $1300 an ounce mark for the first time today.
The dollar dropped to a 10-day low of Y84.19 against the yen, edging closer to this month's 15-year low of Y82.86.
Against the euro, the dollar held near $1.3439 -- its lowest level since May. After starting September near 1.2600, the buck has steadily lost ground, returning to levels not seen since the start of the European sovereign debt crisis.
Concerns about public debt in Europe have been soothed by austerity measures and the a series of successful bond offerings.
German business sentiment improved unexpectedly in September to the highest level since June 2007, despite concerns of a double-dip in the largest eurozone economy.
