|American recovery drives the dollar sharply higher|
|News - St Augustine Area & St Johns County|
NEW YORK ó In the world of currencies, the dollar is starting to look like a safe home in a tough neighborhood.
A strengthening American economy, combined with a gloomy outlook for growth elsewhere, is pushing the U.S. currency sharply higher.
The dollar is up 6.4 percent against a group of major currencies since the start of May and has risen in three of the past four months. The U.S. currency climbed Tuesday to its highest level in six years against the Japanese yen, and itís trading at its highest level in 14 months against the euro.
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