By Deborah Levine
NEW YORK (MarketWatch) -- The dollar rallied on Thursday, reaching a three-month high, after the Philadelphia Federal Reserve's index on manufacturing improved more than expected to 20.4 this month from 16.7. The euro tumbled to $1.4362, after reaching a a fresh three-month low and compared with $1.4527 in late North American trading Wednesday. The dollar index (DXY 77.65, +0.65, +0.85%) , which tracks the greenback against a trade-weighted basket of six major counterparts, rose to 77.684, up from 76.934 late Wednesday. The dollar was already higher before the data after concerns about Greece's debt and other issues in Europe fueled a renewed flight to quality.
