Aren't You Sick Of...

Listening to Al Jazeera again Gus?

NEW YORK, Nov 28 (Reuters) - The dollar rose to one-week highs against the euro, yen and Swiss franc on Wednesday, as investors bet the U.S. currency's recent decline to multiyear lows had gone too far.

Analysts, however, expect the dollar's recovery to be short-lived, especially in the wake of Wednesday's U.S. data that affirmed expectations that the Federal Reserve will cut interest rates next month.

"We're having a bit of a correction in the dollar, with a bit of profit-taking in short dollar positions, but fundamentally nothing has changed," said David Powell, senior currency strategist at IDEAglobal in New York.

"Today's data certainly underlies the case for further U.S. rate cuts. There is still continued dollar pessimism and we expect the euro retest $1.50 in the coming days," he added.

The dollar index, which measures the dollar against a basket of currencies, has lost 4.8 percent since the Federal Reserve began cutting interest rates in the current easing cycle in mid-September...

Economic growth slowed in October and the first half of November as a glut of homes for sale pushed home prices down and tighter credit took some would-be buyers out of the market, the Federal Reserve said on Wednesday.