Dollar falls in volatile trading

AP News
Posted: Mar 19, 2012 5:54 PM
Dollar falls in volatile trading

The dollar fell against most other major currencies in volatile trading Monday in the absence of major economic news from either the United States or Europe.

The U.S. currency rose against the euro in morning trading, but weakened in the afternoon.

The euro rose to $1.3238 late Monday from $1.3171 late Friday. The British pound rose to $1.5899 from $1.5832.

Economic data is light for the rest of the week, but traders will be listening to Treasury Secretary Tim Geithner's testimony on Tuesday. He'll be testifying before the House Financial Services Committee about what the U.S. and lending organizations are doing to help ease Europe's debt crisis.

On Wednesday, both Geithner and Federal Reserve Chairman Ben Bernanke will testify before the U.S. House Committee on Oversight and Government Reform about the region's debt crisis. The testimony is expected to focus on how the region's debt crisis has impacted the U.S.

In other trading, the dollar fell to 0.9114 Swiss franc from 0.9158 Swiss franc and to 98.67 Canadian cents from 99.16 Canadian cents.

The dollar rose to 83.41 Japanese yen from 83.36 Japanese yen.