15.4 C
Monday, March 20, 2023
HomeLatestU.S. dollar tumbles as risk appetite improves

U.S. dollar tumbles as risk appetite improves


NEW YORK, Nov. 11 (Xinhua) — The U.S. dollar fell sharply in late trading on Friday, as signs of improvement in U.S. inflation boosted investor appetite for risk assets.

The dollar index, which measures the greenback against six major peers, decreased 1.76 percent to 106.2950, following a 2.12-percent drop in the prior session.

In late New York trading on Friday, the euro increased to 1.0366 U.S. dollars from 1.0183 dollars in the previous session, and the British pound increased to 1.1854 U.S. dollars from 1.1696 dollars in the previous session.

The U.S. dollar bought 138.53 Japanese yen, lower than 141.84 Japanese yen of the previous session. The U.S. dollar fell to 0.9412 Swiss francs from 0.9666 Swiss francs, and it decreased to 1.3248 Canadian dollars from 1.3352 Canadian dollars. The U.S. dollar decreased to 10.3512 Swedish Kronor from 10.6139 Swedish Kronor.

The above market reactions came as weaker-than-expected October U.S. consumer price index data rekindled hopes of less aggressive rate hikes from the Federal Reserve.