Euro slips vs dollar after hitting 4-month high

AP News
Posted: Sep 17, 2012 3:51 PM

NEW YORK (AP) — The euro slipped against the dollar Monday after hitting a four-month high earlier in the day.

The euro has been gaining against the dollar since the Federal Reserve said Thursday that it will launch another round of bond purchases to help boost the U.S. economy. Those purchases push interest rates lower and can weaken the dollar.

With no economic data released on Monday, traders are awaiting this week's housing and jobs data to see how the U.S. economy is doing.

The euro slipped to $1.3107 late Monday from $1.3117 late Friday. The euro rose as high as $1.3171 early Monday, its highest point against the dollar since May.

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The British pound rose to $1.6241 from $1.6223.

The dollar rose to 78.74 Japanese yen from 78.30 Japanese yen, to 0.9282 Swiss franc from 0.9274 Swiss franc and to 97.55 Canadian cents from 97.02 Canadian cents.