Dollar Dips As Traders Refresh Appetite For Risk

30 Dec

NEW YORK – The dollar dropped against the euro, yen and pound on Wednesday, as traders swung toward riskier assets ahead of key US data.

The euro rose to 1.3224 dollars at 2200 GMT, from 1.3116 dollars on Tuesday.

Against the Japanese currency. the dollar fell to 81.62 yen versus 82.43 the day before.

“Risk appetite is stronger today after yesterday's general bearish market sentiment,” said Andy Douglass of PNC Bank.

“The more upbeat market sentiment is being driven by the belief that the release tomorrow of initial jobless claims and pending home sales will show that the US economy, the worlds largest, is continuing to grow.”

The pound rose to 1.5497 dollars from 1.5375, while the dollar fell to 0.9460 Swiss francs from 0.9519.

– AFP /ls

Channel News Asia

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