Dollar Rises Most Against Euro in Year as Charts Suggest Decline Too Fast

(Bloomberg) -- The dollar rose the most against the
euro in a year as charts some investors use to predict currency
movements suggested its decline to a record low was too rapid.

The U.S. currency has fallen 1.2 percent against the euro
so far this month on speculation weakness in the housing market
may slow economic growth. Average profit growth for the second
quarter among U.S. firms in the Standard & Poor's 500 Index has
so far exceeded analysts' forecasts.


Read more at Bloomberg Currencies News