FOREX-Dollar slides on G20-fuelled risk appetite, IMF

Mon Nov 9, 2009 9:01am GMT
[-] Text [+]

* Dollar falls broadly after G20, U.S. jobs data

* No rush to withdraw stimulus boosts risk appetite

* Euro eyes $1.50 EUR=, dollar index 75.00 .DXY

(Releads, adds comment and quotes, updates prices, changes byline and dateline. Previous: TOKYO)

By Jamie McGeever

LONDON, Nov 9 (Reuters) - The dollar weakened broadly on Monday after a G20 meeting and U.S. jobs data did little to alter the view that U.S. interest rates will stay low for some time, offering investors little incentive to buy the currency.

Sterling, also aided by position adjustments and talk of merger and acquisition-related demand, hit a three-month high against the greenback, the euro closed in on $1.50 and higher-yielding currencies like the Australian and New Zealand dollars jumped.

The conviction that U.S. -- and other -- interest rates will remain low for the forseeable future and liquidity still plentiful boosted demand not just for non-dollar currencies but for a range of other assets from equities to gold.  Continued...

 
KFT.N
Last:
Change:
Up/Down:
 
by Name by Symbol