Dollar makes gains in Eurozone

The dollar continued its rise today, gaining more ground against the euro and rising to a nearly two-year high against the British pound. The Euro fell to 0.68 against the dollar in trading this morning, falling more than 13 cents from its high July 15. The dollar also posted strong gains against the pound, which was down to 1.862 against the dollar, from a value of 1.868 just yesterday. The strengthening dollar — despite the weakening U.S. economy — comes on the heels of worrying economic data from the Eurozone which showed that the economy of the 15-nation single-currency zone shrank 0.2%, according to a report from CNNMoney.com. Additional fears that the U.K. was facing record inflation rates were also a driving factor behind the dollar’s climb.