(Bloomberg) -- The dollar posted its biggest monthly
advance against the euro in more than a year in May as signs of
economic strength reduced the likelihood of cuts in interest
rates by the Federal Reserve.
The U.S. currency rebounded this month from an all-time low
on reports showing gains in new home sales and manufacturing.
The central bank said in minutes of its May 9 meeting released
yesterday that it still expects a pickup in the economy this
year and views inflation as its main concern.
Read more at Bloomberg Currencies News
advance against the euro in more than a year in May as signs of
economic strength reduced the likelihood of cuts in interest
rates by the Federal Reserve.
The U.S. currency rebounded this month from an all-time low
on reports showing gains in new home sales and manufacturing.
The central bank said in minutes of its May 9 meeting released
yesterday that it still expects a pickup in the economy this
year and views inflation as its main concern.
Read more at Bloomberg Currencies News
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