Market News
Euro, yen bounce as dollar stalls near three-month highs - REUTERS
By Kevin Buckland and Medha Singh
- Euro zone business activity contracts again in October
- Robust US data, hawkish Fed comments have supported dollar
- Yen gets respite as Japan finmin warns against rapid moves
- US and Japanese elections cloud outlook for dollar-yen
TOKYO/LONDON, Oct 24 (Reuters) - The U.S. dollar stalled near a three-month high against other major currencies on Thursday, underpinned by expectations for a slower pace of interest rate cuts by the Federal Reserve, while the euro and Japanese yen climbed off recent lows.
The euro edged up 0.2% to $1.0799, a day after slumping to a nearly four-month trough of $1.07612. A survey showed euro zone business activity stalled again last month, but the contraction in Germany, Europe's largest economy, was less steep than the previous month.
