Dollar gains on euro

The dollar gained strength against the euro Tuesday after a top European official warned the euro currency had climbed into the danger zone.

The euro fetched $1.3304 around 22H00 GMT, down from $1.3376 at the same time Monday.

The drop came after a published report quoted Luxembourg Prime Minister Jean-Claude Juncker as saying the euro is "dangerously high" after it climbed to its strongest level in 10 months against the dollar.

The euro was prone to further weakness after German growth figures for 2012 came in well below the levels in 2010 and 2011.

Some analysts see room for the euro to fall still lower.

The euro "may face additional headwinds over the near- to medium-term as the region remains stuck in a recession," said David Song, currency analyst at DailyFX.

"We may see the European Central Bank show a greater willingness to lower the benchmark interest rate further as the economic downturn threatens price stability," Song added.

While US markets remained edgy over the contentious Washington fiscal debate, Federal Reserve Chairman Ben Bernanke Monday offered a steady outlook on the US economy.

Bernanke said he was "cautiously optimistic" about the economy over the next couple of years.

On the positive side for the dollar, US retail sales for December bested analyst expectations, according to data released Tuesday.

The euro also retreated against the Japanese yen, trading at 118.14 yen from 119.65 yen Monday.

The dollar also fell against the yen, dropping to 88.80 yen against Monday's level of 89.45 yen.

The dollar rose against the Swiss franc, garnering 0.9316 franc Tuesday compared with 0.9216 franc late Monday.

The dollar gained on the British pound as well. A pound was worth $1.6063, down from $1.6074 the previous day.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2516-0.0015-0.12%
    USDSGD=X
    1.7294-0.0017-0.10%
    EURSGD=X
    2.0953-0.0007-0.03%
    GBPSGD=X
    81.5702+0.2738+0.34%
    SGDJPY=X
    6.1898+0.0025+0.04%
    SGDHKD=X
    2.5895+0.0008+0.03%
    SGDMYR=X
    9,123.9287-1.0811-0.01%
    SGDIDR=X
    4.9674+0.0027+0.05%
    SGDCNY=X
    1.17310.000.00%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,300.10-0.20-0.02%
    GCM14.CMX
    19.57+0.05+0.26%
    SIN14.CMX
    91.87-1.95-2.08%
    ^XAU
    2.99+0.01+0.22%
    HGK14.CMX
    103.82+0.07+0.07%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.62+0.02
    ^FVX
    2.63-0.01
    ^TNX
    3.46-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    1.28+0.025+1.99%
    N21.SI
    0.122-0.001-0.81%
    B22.SI
    0.60+0.010+1.69%
    E5H.SI
    2.20+0.010+0.46%
    JS8.SI
    0.98+0.070+7.69%
    B20.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.675+0.055+8.87%
    5VT.SI
    0.98+0.070+7.69%
    B20.SI
    0.19+0.013+7.34%
    5H0.SI
    0.113+0.008+7.62%
    5MM.SI
    0.96+0.055+6.08%
    U2T.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.096-0.011-10.28%
    S13.SI
    0.132-0.008-5.71%
    5BM.SI
    0.17-0.010-5.56%
    5WG.SI
    0.55-0.030-5.17%
    A05.SI
    0.123-0.005-3.91%
    J74.SI