Reuters: US Dollar Report: Euro recovers to trade higher against the dollar

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Euro recovers to trade higher against the dollar Jan 7th 2013, 15:52 NEW YORK | Mon Jan 7, 2013 10:52am EST NEW YORK Jan 7 (Reuters) - The euro recovered and rose to a session high against the dollar on Monday with investors adjusting positions ahead of a European Central Bank policy meeting later in the week. Some analysts said the euro was more likely to remain under pressure as markets refocus on the euro zone's debt crisis, with any indication of monetary stimulus or comments on economic weakness seen pushing the euro zone common currency lower. But some investors speculated there was too much bearishness and that if the ECB was not too negative, the euro could rally. Currency speculators became net buyers of the euro for the first time since August 2011 in the week to Dec. 31, according to data from the Commodity Futures Trading Commission released on Friday. The euro was last up 0.2 percent at $1.3088, just off the session peak of $1.3090.

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