“With the Fed leaning in the other direction, the trend remains higher for the dollar,” said Ron Simpson, director of currency team at Action Economics in Tampa, Florida.
It turned negative when the euro firmed against the dollar after a stronger-than-expected business survey in November offered hope that Europe’s largest economy was gaining momentum after narrowly avoiding a recession last quarter.
The euro gained 0.2 percent to trade at $1.2417 after trading as low as $1.2359, within a whisker of a two-year low hit earlier in the month.
UBS strategists said data showing the amount of cash that commercial banks hold with the Swiss National Bank surged last week, confirming their view the SNB may have intervened to defend its peg of 1.20 francs per euro last week.
Source:
http://finance.yahoo.com/news/forex-dollar-index-rises-near-144925391.html
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