Dollar Mostly Falls Ahead of March Data On U.S. Trade Deficit
Dow Jones Newswires</br></br>The dollar was modestly weaker against most major currencies as some investors sold the U.S. currency ahead of the release of today's keenly awaited March trade-deficit data.</br></br>Falling Treasury yields and U.S. equities added to the pressure on the currency, which still seems to be searching for a clear direction. The session's main winner was the euro, which strengthened against the dollar, yen and sterling, as traders took profits after driving the common currency lower in recent days.</br></br>In late New York trading, the euro was at $1.2872, up from $1.2843 late Monday. The dollar weakened to 105.59 yen from 105.65 yen and to 1.2015 Swiss francs from 1.2055 francs. The pound fell to $1.8822 from $1.8832 on weak overnight data, while the euro moved to 135.88 yen from 135.66 yen.</br></br>There were no major U.S. economic reports. The trade-deficit numbers could shake up the market in early New York trading today. The consensus of a Dow Jones Newswires and CNBC survey is that the deficit widened slightly to $61.5 billion in March, from February's record $61 billion.