U.S. dollar slips as euro rises

NEW YORK, June 27 (Xinhua) -- The U.S. dollar decreased in late trading on Monday, amid strength in the euro.

The dollar index, which measures the greenback against six major peers, fell 0.24 percent to 103.9390.

In late New York trading, the euro rose to 1.0586 U.S. dollars from 1.0551 dollars in the previous session, and the British pound increased to 1.2277 dollars from 1.2269 U.S. dollars in the previous session. The Australian dollar decreased to 0.6923 U.S. dollar from 0.6939 dollar.

The U.S. dollar bought 135.44 Japanese yen, higher than 135.23 Japanese yen of the previous session. The U.S. dollar was down to 0.9563 Swiss franc from 0.9589 Swiss franc, and it was down to 1.2879 Canadian dollars from 1.2919 Canadian dollars.

The above market moves came as market participants assessed the likelihood of a recession in the United States amid continued hawkish signals from the Federal Reserve.

"A recession would hurt the USD in our view, as it has gained this past year on strong growth expectations," analysts at UBS said in a note.

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