29 Sep '11, 10pm

US dollar falls on euro vote, yen weak on sales data

NEW YORK: The US dollar fell back against most major currencies on Thursday, after Germany's parliament voted overwhelmingly to boost the eurozone rescue fund and positive US growth and unemployment figures. The European single currency climbed to $1.3586 from $1.3536 late in New York on Wednesday. "The dollar fell against the euro and most of its rivals on Thursday after Germany's parliament approved by a landslide vote new measures to give the bloc's bailout fund more muscle," said analysts at Travelex. The German parliament passed a beefed-up rescue fund for stricken eurozone countries by a large majority on Thursday in a vote seen as crucial to stem financial market turmoil. The dollar fell against the British pound, which traded at $1.5618 compared to $1.5578 the day before. The dollar also weakened against the Swiss currency, to 0.8977 francs from 0.9001 francs. But ...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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