Dollar Erases Gain Against Euro as Concern About U.S. Slowdown Increases

(Bloomberg) -- The dollar was little changed after
erasing a gain against the euro as concern increases that losses
in subprime mortgages will worsen a slowdown in the U.S. housing
market and curb economic growth.

The currency also pared its advance versus the yen as
investors avoided riskier assets and sought the safety of U.S.
government debt. Federal Reserve Chairman Ben S. Bernanke said
yesterday that losses on investments linked to mortgages given
to people with poor credit histories may total $100 billion.


Read more at Bloomberg Currencies News