Dollar rises with stocks

By Blake Ellis, contributing writer


NEW YORK (CNNMoney.com) -- The dollar edged up against major currencies on Monday, following stocks higher after the health care bill passed a key vote in the Senate.

"The movement in equities indicates that the dollar is rising because of the more optimistic outlook people have for the U.S. economy," said Kathy Lien, director of currency research at Global Forex Trading.

Trading is expected to be thin during the holiday week, she said. As a result, the dollar is likely to remain within a predictable range.

"The dollar is holding onto its gains," she said. "There's no U.S. economic data on the calendar today, so nothing is really stopping it from rising."

Stocks surged on Monday after the Senate voted to end debate about revising the health care bill.

The Dow Jones Industrial Average (INDU) rose 85 points, boosted by Alcoa (AA, Fortune 500), the aluminum producer, which surged more than 9% after it announced a joint venture with Saudi Arabia.

The dollar rose 0.06% against the euro to $1.427. The greenback rose 0.03% against the British pound to $1.604.

The dollar was up 0.04% against the yen to ¥91.21.

Last week, the dollar climbed to a three-month high on Thursday, and ended the week flat against the euro.  To top of page

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Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
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15 yr refi3.20%3.23%
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Index Last Change % Change
Dow 29,348.10 50.46 0.17%
Nasdaq 9,388.94 31.81 0.34%
S&P 500 3,329.62 12.81 0.39%
Treasuries 1.79 -0.04 -2.40%
Data as of 9:26am ET
Company Price Change % Change
Host Hotels & Resort... 17.88 0.00 0.00%
Nielsen Holdings PLC... 21.51 0.00 0.00%
Nordstrom Inc 40.34 0.00 0.00%
Bank of America Corp... 34.71 0.00 0.00%
Duke Realty Corp 35.67 0.00 0.00%
Data as of Jan 17

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