US dollar continues rise against euro

The dollar strengthened against the euro for a fifth day in six in New York on speculation US economic growth is exceeding Europe’s expansion.

Signs the European economy is slowing prevented the dollar from weakening past $1.24 per euro last week, when its sentiment index fell to the lowest in a year.

“The data will show that the dip in the US economy was only temporary, whereas we haven’t yet seen the worst of the data from Europe,” said a US currency strategist.