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Dollar climbs against euro, pound on corporate deals as markets ...

&Mdash; The dollar rose against the euro and the pound Monday as several corporate deals reassured investors about the economy, while markets await U.S. economic data and a key jobs report due later in the week.

The 16-nation euro retreated to $1.4591 in late New York trading from $1.4665 late Friday. Last week, the euro peaked at $1.4842, its highest level in 12 months.

The British pound fell to $1.5869 in late trading from $1.5938 Friday, while the dollar slipped to 89.73 Japanese yen from 89.90 yen. Earlier in the session, the dollar fell as low as 88.22 yen, its weakest point since January.

Unicredit said in a research note to clients that data on weekly jobless claims, personal income and construction outlays to be released Thursday will determine the upward ceiling of the euro's rally.

"Slightly disappointing figures should not thwart the risk-taking behavior, keeping $1.50 as a short-term target," Unicredit said.

Takeover moves Monday were seen as a positive sign that businesses have enough faith in a recovery in the economy to pursue acquisitions. Abbott Laboratories said it would buy the pharmaceutical business of Belgian chemicals maker Solvay for $6.6 billion and Xerox Corp. agreed to acquire Affiliated Computer Services for about $6.4 billion.

In other trading in New York, the dollar slid to 1.0874 Canadian dollars from 1.0922 late Friday, but climbed to 1.0341 Swiss francs from 1.0299 francs.

Source: Dollar climbs against euro, pound on corporate deals as markets ...

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