Dollar Falls, Euro Close to Highest Level in 9 Months
Tokyo, January 24 (QNA) – The dollar hovered near a nine-month low to the euro and lost recent gains against the yen on Tuesday, as traders weighed the risks of a US recession and the path for Federal Reserve policy.
The US dollar index – which measures the greenback against a basket of six peers, including the euro and yen – slipped 0.12% to 101.89, heading back towards the 7-1/2-month low of 101.51 reached last week.
The euro added 0.08% to $1.0880, taking it closer to Monday’s peak of $1.0927, the strongest since April.
Europe’s single currency has been buoyed by comments from European Central Bank officials pointing to further aggressive policy tightening.
The dollar sank 0.41% to 130.11 yen , retreating after two sessions of strong gains. Meanwhile, sterling was last trading at $1.2391, up 0.12% on the day. (QNA)