Dollar falls as euro continues to recover

08:44, January 19, 2011      

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The U.S. dollar fell against major currencies in late New York trading on Tuesday as strong German data helped the euro continue its recovery.

The ZEW economic-sentiment indicator for Germany jumped surprisingly to 15.4 points in January from 4.3 in December. Economists had forecast the gauge to rise to 8.0.

The euro rose to 1.3392 against the dollar in late trading session on Tuesday, as investors' confidence on the euro was revived by optimistic economic data.

The dollar index, a gauge of its performance against six major currencies, slipped to 78.972 from 79.371 late Friday.

In late Tuesday trading, the dollar bought 82.54 Japanese yen, comparing with 82.71 late Friday, and the euro rose to 1.3392 dollars from 1.3293.

The British pound also rose to 1.5979 dollars from 1.5884. The dollar fell from 0.9649 to 0.9630 against Swiss francs, but rose to 0.9927 Canadian dollars from 0.9876.

Source: Xinhua
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