Dollar Continues Broad Slide

31 Dec

NEW YORK – The dollar lost further ground against the euro and Swiss franc on Thursday, despite a poor bond auction in Italy.

The euro rose to 1.3286 dollars at 2200 GMT Wednesday, up from 1.3224 dollars the day before.

That was despite news that Italy raised more than eight billion euros (10.6 billion dollars) in its final bond auction of 2010, but was forced to pay investors sharply higher rates amid persistent eurozone debt concerns.

“The US dollar is under broad pressure today,” said Vassili Serebriakov of Wells Fargo.

“While global economic data calendars remain relatively light, the dollar's vulnerability could be seen as a reflection of global monetary policy divergences.”

Meanwhile the Swiss franc hit record highs against the dollar, euro and sterling as the safe-haven currency continued to benefit from economic uncertainties heading into the New Year, traders said.

he dollar fell to 0.9350 Swiss francs from 0.9460 the day before.

Against the Japanese currency, the dollar fell to 81.55 yen versus 81.62 yen.

The pound fell to 1.5423 dollars from 1.5497 dollars.

– AFP /ls

Channel News Asia


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