Dollar May Weaken to $1.4780 per Euro on Data, Commerzbank Says

By Justin Carrigan

Sept. 30 (Bloomberg) -- The dollar may extend declines should government reports today signal the pace of the U.S. economic recovery is slowing, Commerzbank AG said.

“A breach of the support in the $1.4500-to-$1.4530 area in euro-dollar is difficult,” Frankfurt-based currency analysts Antje Praefcke and Lutz Karpowitz wrote in a report today. “If U.S. data disappoint –- U.S. consumer confidence surprised negatively yesterday and doesn’t bode well for Friday’s employment report -- euro-dollar should head back toward $1.4780.”

The dollar weakened 0.3 percent to $1.4625 as of 7:26 a.m. in London.

To contact the reporter on this story: Justin Carrigan in London at jcarrigan@bloomberg.net