U.S. Dollar Struggles

The dollar set a fresh two-year low versus the euro on Friday, pressured by strengthened expectations the U.S. Federal Reserve will maintain its asset purchases through early next year.

The dollar also set a fresh 8-1/2-month low versus a basket of currencies and slipped to a two-week low against the yen.  The euro edged up 0.2 percent to $1.3825 and rose to as high as $1.3833, its highest level since November 2011.

The single currency shrugged off data the previous day showing the pace of growth in euro zone business unexpectedly eased this month as global data suggested the recovery remains fragile elsewhere as well, with U.S. manufacturing output dropping for the first time in four years.


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