Dollar falls as risk appetite returns
NEW YORK—The dollar fell on Tuesday as traders regained some nerve for riskier trades after a ream of sovereign debt news that caused jitters the day before.
The euro rose to $1.4334 at 2100 GMT up from $1.4236 the day before.
“Risk aversion subsided today, following yesterday’s double blow of Greek sovereign (two year) bond yields surging to 20 percent and the S&P downgrade of the outlook for the US’s AAA credit rating to ‘negative,'” said Michael Woolfolk of BNY Mellon.
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“The relief rally bolstered global equities and commodities, while undermining the US dollar and the Japanese yen.”
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The dollar fell to 82.57 yen (82.66) but rose to 0.8993 Swiss francs (0.8961).
The pound rose to $1.6316, up from $1.6259 the day before.
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