Dollar gains as eurozone economy contracts

NEW YORK: The dollar booked fresh gains against the euro and other major currencies Thursday as official data revealed that the eurozone economy had contracted for the first time since its creation in 1999. News that the eurozone economy, which groups 15 states, suffered negative economic growth, or a contraction, in the second quarter helped boosted the dollar. Eurozone output fell by 0.2 percent in the April-June period as German growth succumbed to global strains. Germany is Europe's largest economy.