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{"ParentUrl":"http://localhost/utc.rss","Tags":"news","relatedSources":"null","Link":"http://online.wsj.com/article/SB10001424052970204643804577101523976012472.html?mod=rss_whats_news_us","fetchTimeStamp":"16-12-2011 23:39:17","SourceName":"VM","Author":"","actualTimeStamp":"16-12-2011 19:27:09","Content":"The dollar lost some of its recent gains Friday, while the euro posted modest gains and held above the $1.30 level.\n\nThe safe-haven play on the greenback eroded after a report showed the cost of living held flat in November. Prices paid by U.S. consumers for a broad range of goods and services were unchanged on a seasonally adjusted basis in November, according to the Labor Department Friday, while the core rate of inflation rose 0.2%.\n\n\"The stickiness in price growth dampens the [Federal Open Market Committee's] scope to expand monetary policy further as Fed officials see the recovery gathering pace in the following year,\" said David Song, a currency analyst at DailyFX.\n\nThe euro rose to $1.3030 from $1.3022 late Thursday. The shared currency was around 2.5% below the level it traded at a week ago. The British pound climbed to $1.5522 from $1.5512. Against the Japanese currency, the dollar was fetching ¥77.80, compared with ¥77.90.\n\n\"The U.S. dollar continued to lose ground on Friday as market sentiment firmed up, but the recent weakness in the greenback is likely to be short-lived as the fundamental outlook for the world's largest economy improves,\" Mr. Song said. And \"as market participants scale back expectations for another large-scale asset purchase program, the bullish sentiment underlining the greenback should gather pace over the remainder of the year.\"\n\nThe U.S. Dollar Index, a gauge of the currency's performance against six major global counterparts, slipped to 80.180 from 80.292 late Thursday. The index was around 2% higher from the 78.622 level it traded at late last Friday.\n\nFor the euro, foreign-exchange strategists at Soci鴩 G鮩rale said the euro-zone situation was now a \"chronic, rather than an acute crisis,\" after repeated failures to resolve the problems.\n\n\"The crisis should gradually have less global impact, as we can already see from falling volatility levels in rates, equities and even [forex]. This makes buying currencies which had nothing to do with the euro crisis but suffered from risk aversion nonetheless, a viable strategy for 2012,\" the strategists wrote to clients in a weekly report.","Title":"Stock Futures Rise"}]}