FOREX-Euro trades lower against the dollar in NY session

NEW YORK Mon Aug 22, 2011 11:04am EDT

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NEW YORK Aug 22 (Reuters) - The euro surrendered gains and traded lower against the U.S. dollar in late morning trade in New York on Monday, though investors were reluctant to make big bets ahead of a speech by the Federal Reserve chairman later this week.

The Fed will host its annual retreat in Wyoming this week, and recent market turmoil and signs of weaker U.S. growth have fed expectations that Fed Chairman Ben Bernanke may hint at more emergency stimulus for the economy.

The euro was last at $1.4377, down 0.1 percent on the day, but still off the global session low of $1.4345. The session peak touched earlier was $1.4434, according to Reuters data. EUR= (Reporting by Nick Olivari; Editing by Padraic Cassidy)

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