Monday, May 16, 2005 | 9:30 a.m.
The dollar climbed to a seven-month high versus the euro in Asia on speculation a report today will show gains in New York manufacturing, adding to expectations U.S. economic growth will quicken and outpace that of Europe.
The U.S. currency advanced against 14 of its 16 most-traded counterparts, extending gains this year to 7.6 percent versus the euro and 4.9 percent to the yen on expectations the economy will outperform those of Europe and Japan. European Union finance ministers on Friday said they have "serious concerns" about regional growth.
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