Dollar Gains Most Against Euro in 4 Days


The dollar gained the most against the euro in four days and strengthened versus the yen after the index of leading U.S. economic indicators unexpectedly rose in April.

The greenback gained versus 13 of the 16 most-actively traded currencies, including the Brazilian real and British pound.

The dollar advanced after the Conference Board's leading- indicator gauge increased 0.1 percent for a second month, better than forecast, the New York-based research group said today. The measure points to the direction of the economy over the next three to six months.

The dollar may gain further on speculation minutes from the Fed's meeting last month will show policy makers are concerned that rising commodity prices will fan inflation. The Fed on May 21 will release minutes of its April meeting, where the policy- setting Federal Open Market Committee cut the benchmark interest rate by a quarter point to 2 percent.


TradingEconomics.com, Bloomberg
5/19/2008 1:56:43 PM