Dollar makes more strides vs. euro

U.S. currency reaches highest level in nearly 6 months amid continuing concern about Europe's economy.

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By Lara Moscrip, contributing writer

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NEW YORK ( -- The dollar pushed to a nearly six-month high against the euro Monday amid continuing concerns about the European economy, but the U.S. currency lost ground against the yen.

The 15-nation euro slipped to $1.4899 from $1.4932 late Friday, when it slipped below the crucial $1.50 level. It fell as low as $1.4880 in Monday trading.

Disappointing economic news from Europe has been the catalyst in the dollar's rally, according to Stephen Malyon, currency analyst with Scotia Capital.

"Numbers from Europe have disappointed expectations, whereas numbers from the U.S. have come in a little stronger than expected, or in line with expectations," Malyon said.

Against the yen, the dollar fell to ¥110.09 from ¥110.30, which was the highest level against the Japanese currency since January.

Other key developments this week for the dollar will be the reports of U.S. retail sales Wednesday and the Consumer Price Index on Thursday.

Oil: U.S. crude for September delivery fell 75 cents Monday to $114.45 a barrel after Iran called for renewed nuclear talks and China reported a decline in crude imports, countering threats to supplies in Eastern Europe from the Georgia-Russia conflict. (Full story)

Stocks: Stocks rose Monday, led by technology, as oil prices slumped, erasing early gains sparked by a military conflict between Russia and Georgia. (Full story)

Bonds: Treasury prices fell Monday on a large supply of debt after last week's $27 billion infusion into the market.(Full storyTo top of page

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