Dollar Heads for Weekly Gain as Euro, Tech Shares Fall
(Bloomberg) -- The U.S. dollar is on pace for its biggest weekly advance since June as strength in the euro currency ebbed and as American technology shares slumped.
The euro fell for a fourth day after reaching the highest level since May 2018 on Tuesday. That day, the shared currency began its descent after ECB chief economist Philip Lane expressed concern over its strength, spurring speculation the central bank will ease monetary policy further.
The Nasdaq Composite Index was on course for its largest two-day slump since March as mega-cap technology names slid following a report that outsize option trades by one firm were responsible for their recent run-up.
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