Euro Turns Up Against Dollar --- Trading Ranges Are Narrow; Swiss Bank Seen in Market Again
The euro regained some of its day-earlier losses against the dollar with a broad rebound in risk appetite but stayed within recent ranges.</br></br>Advancing U.S. stocks and crude-oil futures encouraged traders to buy riskier currencies and sell the safe-haven dollar. Crude-oil futures rallied above $70 a barrel for the first time in three days.</br></br>Also, many analysts said the dollar's relief rally against the euro on Wednesday, on what was perceived as a less-dovish Federal Open Market Committee policy statement, was misguided, as policy was essentially unchanged. However, the euro didn't advance far past the $1.40 level on Thursday.</br></br>A third suspected intervention in two days by the Swiss National Bank to weaken the franc may have weighed on the euro, some analysts said.</br></br>Market uncertainty remains high amid mixed economic data. Thursday's slate included better-than-anticipated revisions to the U.S. first-quarter gross domestic product but also a jump in jobless claims last week.