Dollar mixed as ECB may intervene

08:22, December 02, 2010      

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The U.S. dollar traded mixed against major currencies in late New York trading on Wednesday as the euro rebounded on speculation that the European Central Bank might take action to curb its recent losing streak.

The euro bounced back to above 1.31 against the dollar on Wednesday after slumped to nearly 3-month low a day ago, as the European Central Bank might take bold measures on its Thursday meeting to deal with the European debt crisis which haunted the euro for weeks, according to many investors.

A U.S. official said the U.S. would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund, also helped bolster the euro.

However, some market participants still thought the ECB could disappoint the market which might prompt new round of euro's sell- off in fairly short term.

In late Wednesday trading, the dollar bought 84.19 Japanese yen, comparing with 83.66 late Tuesday, and the euro rose 1.3141 to dollars from 1.3012.

The British pound also rose to 1.5627 dollars from 1.5580. The dollar declined from 1.0027 to 1.0017 against Swiss francs, and also dropped to 1.0160 Canadian dollars from 1.0247.

Source: Xinhua


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