Rallying dollar heads for big advance

THE dollar is headed for the biggest quarterly advance since Bill Clinton was in the White House, and may extend its rally, according to a Bloomberg News survey.

Of the 45 participants polled from Sydney to New York on June 24, 67% said to sell the euro against the dollar, up from 52% a week earlier.

The dollar is being buoyed by a fourth straight year of faster economic growth than Europe and the higher yields available on US debt. Investors and traders pushed the euro to a 10-month low on speculation the European Central Bank will reduce interest rates for the first time since 2003 to revive the region’s sluggish economy.