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Dollar falls on economic concerns

(Xinhua)

10:51, August 20, 2011

NEW YORK, Aug. 19 (Xinhua) -- The U.S. dollar fell against most major currencies in late New York trading on Friday as concerns over economic growth intensified in the markets.

With no economic data due out on Friday, the dollar fell after a rebound on previous session due to risk-aversion appetite.

The dollar tumbled against the Japanese yen. However, analysts feared that the Japanese government might step in to prevent yen' s further strength.

The Swiss franc remained in focus as Switzerland's central bank this week took additional steps in an effort to arrest the franc's sharp rise on safe-haven flows.

Many investors expected Fed Chairman Ben Bernanke to elaborate on potential options of further easing policy when he speaks next Friday at the central bank's annual meeting in Jackson Hole.

In late Friday trading, the dollar bought 76.48 yen, comparing with 76.54 yen late Thursday, and the euro rose to 1.4387 dollars from 1.4319.

The British pound fell to 1.6482 dollars from 1.6496. The dollar fell from 0.7924 Swiss francs to 0.7879, and also fell to 0. 9896 Canadian dollars from 0.9908.

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