Dollar Strengthens After Durable Goods Orders Unexpectedly Gain

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The dollar strengthened to almost a one-month high after a report showed U.S. orders for durable goods unexpectedly rose in April.

The euro headed for the biggest monthly drop since January versus the U.S. currency after European Central Bank President Mario Draghi signaled yesterday that policy makers are ready to expand stimulus. South Africa��s rand slipped to the weakest level in almost a week as a report showed gross domestic product contracted for the first time since 2009 in the first quarter.

The Bloomberg Dollar Spot Index, which tracks the greenback against the performance of a basket of 10 major currencies, advanced 0.1 percent to 1,011.28 as of 8:48 a.m. New York time. The index reached 1,012.43 on May 23, the strongest level since April 24.

The euro fell 0.1 percent to $1.3640. Europe��s shared currency was little changed at 139.06 yen after declining to 138.15 on May 21, the least since Feb. 6. The dollar was little changed at 101.96 yen.

Source : Bloomberg