The euro fell to its lowest since March 15 against the dollar and lowest since March 3 against sterling, after German and Spanish consumer inflation slowed more sharply than expected. Financial analysts said the euro falling below a technically important level around $1.07 against the dollar triggered orders by traders to sell. That helped sink it to $1.0686.
The Commerce Department earlier reported that U.S. gross domestic product grew faster than previously reported in the fourth quarter last year thanks to robust consumer spending. The dollar rose today as a combination of technical trading and a theme of strong U.S. economic data and potential weakness in the euro zone.