NEW YORK: The dollar fell against the euro Monday in rocky trade, reversing its climb of several days as European bailouts of Portugal, Ireland and possibly Greece moved ahead. At 2100 GMT the euro was at $1.4153, from $1.4108 late Friday.
The euro got a slight boost after the IMF and European Union signed a three year 78 billion euro bailout for Portugal, and the IMF approved the release of 1.58 billion euros ($2.25 billion dollars) in new assistance to debt-laden Ireland.
Traders shrugged off the US government hitting its ceiling on borrowings amid a political fight over the long-term deficit. "Based upon the price action in the currency, equity and bond markets, investors aren't too worried because they believe that it will only be a matter of time before Congress will raise the government's borrowing limit," said Kathy Lien of currency specialists GFT.
The dollar rose to 80.76 Japanese yen from 80.71 yen late Friday. It bought 0.8843 Swiss francs (0.8927). Meanwhile the pound traded at $1.6186 ($1.6176).
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