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NEW YORK: The dollar rose to two-month highs against the euro on Tuesday as markets saw a widening disparity between the strength of US and European economic recoveries from the coronavirus pandemic.

Against the dollar, the euro was trading at $1.2030 at mid-morning in New York, down almost to an early December low, and off 0.24% for the day as well as down 1.53% for the year.

“Growth differentials are taking a toll on the euro and adding to the traction that we’ve seen for the US currency this year,” said Joe Manimbo, senior market analyst at Western Union Business Solutions.

The dollar index gained 0.27% despite further gains for global stocks.

Against the yen, the dollar hovered above 105 yen for the first time since mid-November.

The Aussie last stood at $0.7575, down 0.6% for the day.

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