The dollar fell 0.4 percent to $1.3752 euros at 8:11 am in New York today as investors opted for equities in the wake of a series of positive data releases suggesting the US economy is stabilizing. The euro is being supported by growing speculation that the European Financial Stability Facility may buy toxic government debt.
Ã¢â‚¬Å“We continue to get generally positive data out of the U.S. that supports a global growth story, and the Egypt situation hasnÃ¢â‚¬â„¢t spread in any major way to any other Arab nations,Ã¢â‚¬Â said Stephen Gallo, head of market analysis at Schneider Foreign Exchange in London. Ã¢â‚¬Å“So global risk assets are supported. The move by the EFSF on balance will be euro- supportive.Ã¢â‚¬Â
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