The dollar slumped to a four-month low against a basket of currencies on Wednesday, facing renewed selling amid a recovery in risk appetite that has curbed safe haven buying of dollars.
Traders said the dollar also came under pressure due to an opinion story in the Financial Times that touched on the risk of the United States losing its triple A credit rating and refocused attention on rising U.S. debt issuance.
The dollar index, which measures its achievement adjoin a bassinet of six currencies, hit a four-month low of 81.871 <.DXY>. After accent some losses, it was bottomward 0.5 percent on the day at 81.933.
The dollar basis had collapsed beneath the 200-day affective average, a key abutment on abstruse charts, backward aftermost week.
The euro hit a seven-week aerial of $1.3722 on trading belvedere EBS. It after afford some assets to angle at $1.3707 for a accretion of 0.4 percent on the day. The dollar fell 0.6 percent adjoin the yen to 95.89 yen .
Market players said the dollar may be basic a arch and amateur arrangement adjoin the yen on abstruse archive and looked vulnerable, although it could draw some abutment from the 90-day affective boilerplate at about 95.45 yen.
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