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Dollar gaining from Europe's debt ills

Dollar gaining from Europe's debt ills

The dollar is getting a boost from Europe's debt woes, particularly the lingering concern that more will have to be done to rescue the Greek economy.
The U.S. currency is up despite a report Tuesday showing that builders cut new home construction last month. A separate report says U.S. factories made fewer goods in April, the first decline in 10 months, because of an auto parts shortage from Japan.
Investors are worried that Greece will need to reduce or delay bond repayments, which could hurt the European banks that hold Greek bonds.
In morning trading in New York, the euro is worth $1.4159 from $1.4192, while the dollar gains to 81.43 Japanese yen from 80.84 yen. The British pound is almost unchanged at $1.6208 from $1.6211.


Updated : 2021-05-12 04:23 GMT+08:00