“The dollar and the Swiss franc rose against higher-yielding counterparts on concern that Europe’s leaders will struggle to find a solution to the debt crisis, threatening the region’s economic recovery.
The Dollar Index approached a seven-week high and the franc climbed to a record against the euro. GfK AG said its German consumer confidence index will fall for a third consecutive month in June, with speculation Greece may need to default clouding growth prospects. Orders for U.S. durable goods probably declined in April, a separate report may show. The Swedish krona climbed as the central bank said inflation will accelerate and unemployment fell more than predicted.
“The euro-zone debt crisis is still the main concern with the unsolved problems,” said You-na Park, a currency strategist at Commerzbank AG in Frankfurt. “The Swiss franc is a traditional safe haven, therefore when you have uncertainty it can gain. The dollar is still a haven currency.”
The dollar gained 0.1 percent to $1.4080 per euro as of 7:31 a.m. inNew York. It appreciated to $1.3970 on May 23, the strongest level since March 17. The greenback advanced 0.1 percent to 82.06 yen. The Swiss franc jumped 0.7 percent to 1.2320 per euro after being as strong as 1.2230. It climbed 0.5 percent to 87.60 centimes per dollar.”
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