The euro Tuesday is higher against the dollar after former Fed Chairman Alan Greenspan reportedly said that the credit crisis may be the most wrenching for 50 years or more. But he said home prices in the U.S. may stabilize well before early 2009.
On Monday, the dollar led the euro as currency traders waited in the wings before the European Central Bank and Group of Seven leading industrial nations meetings this week.
Analysts said that the ECB is almost certain to keep rates steady and the G7 is to refrain from addressing the strong euro in its final communique. But the risk of the unexpected - such as a more-bearish comment from ECB President Jean-Claude Trichet - will challenge any euro advance against the dollar in the days ahead.
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