Dollar mixed as ECB buys Portuguese bonds

08:33, January 12, 2011      

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The U.S. dollar traded mixed against major currencies in late New York trading on Tuesday as the European Central Bank (ECB) bought Portuguese bonds, which pushed up the euro.

The ECB bought Portuguese government bonds to stop the market from selling off steeply before important debt auctions in Lisbon on Wednesday.

The euro climbed near 1.30 against the dollar in midday trading, but lost its upward momentum in late trading session.

The euro earlier also found support after Japan said it would purchase eurozone bonds to bolster confidence in the European Financial Stability Facility.

The dollar rose toward 83.34 against the Japanese yen as recent optimism about the U.S. economy helped lift bond yields.

In late Tuesday trading, the dollar bought 83.27 Japanese yen, comparing with 82.81 late Monday, and the euro rose to 1.2970 dollars from 1.2954.

The British pound also rose to 1.5600 dollars from 1.5582. The dollar rose from 0.9681 to 0.9735 against the Swiss franc, but fell to 0.9910 Canadian dollars from 0.9934.

Source: Xinhua
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