Dollar Finds New Footing Versus Euro

Washington (Mar 26 )   The dollar was narrowly mixed versus major rivals on Wednesday after another encouraging reading on the US economy.

A stronger-than-expected 2.2% rise in February durable-goods orders gave the dollar a modest lift.

The Federal Reserve last week indicated that interest rates may rise a year from now as long the US economy continues to improve.

The buck edged up slightly to USD1.3750 versus the euro, moving further from a recent 2 1/2-year low of USD1.40 .

Talk of monetary stimulus from the European Central Bank has weighed on the euro this week.

Jens Weidmann , a member of the European Central Bank's Governing Council , told MNI news service that quantitative easing for the euro zone is not out of the question.

And today, ECB Governing Council member Josef Makuch said the bank is prepared to take decisive steps if necessary.

The dollar was down a bit versus the sterling, slipping to USD1.6520 from near USD1.6480 .

There was little movement against the yen, with the pair locked in a tight range near Y102 for the past month.

Source:  Alliance News