Forex View: Dollar's Recent Advances Could Stall This Week
Dow Jones Newswires</br></br>TORONTO -- The U.S. dollar's steady climb against other major currencies may stall or even reverse this week, as its recent rally pauses amid a heavy schedule of political and economic news.</br></br>With financial markets in New York and London closed for holidays yesterday, the dollar gained against the euro after French voters strongly rejected the European Union constitution in Sunday's referendum. The dollar also firmed against the Swiss franc but was little changed against the yen.</br></br>The foreign-exchange market will follow a similar referendum on the EU constitution in the Netherlands tomorrow as well as the usual litany of economic data from the U.S. and elsewhere.</br></br>Late Monday, the euro was at $1.2474, down from $1.2574 late Friday. The dollar traded at 107.98 yen, from 107.95 yen, and 1.2388 francs, from 1.2313 francs. The pound fetched $1.8235, little changed from $1.8221.