Dollar gains as economic uncertain dominates

NEW YORK (AP) — The dollar and yen, both commonly used by traders as safe havens, moved higher in light trading today as uncertainty about the strength of the economic recovery lingered.

The euro, used by 16 European countries, dropped to $1.2682 in late New York trading from $1.2711 late Friday. It touched as low as $1.2647, its lowest point since July 13.

The euro has been volatile this summer, bouncing from a four-year low just under $1.19 in early June as investors worried about the European debt crisis and slow growth, to a three-month high above $1.33 in the first week of August.

There was no economic data released in the U.S. today, but a survey of purchasing managers in Europe suggested that business activity grew more slowly in August. That "did the euro no favors," said Brown Brothers Harriman currency strategists in a research note.