08 Feb '11, 11pm

US dollar softens against euro

NEW YORK: The euro rebounded against the US dollar on Tuesday as ebbing worries about the Middle East increased investors' appetite for riskier assets. At 2200 GMT the euro was traded at $1.3621 compared with $1.3581 late Monday. The dollar was barely changed against the yen, buying 82.31 yen compared with 82.32 the day before. The calmer situation in Egypt gave traders respite, after the political turmoil in Cairo pushed traders to the greenback before the weekend. "Markets are back at buying risk assets," said David Gilmore of Foreign Exchange Analytics. "People are looking at the world as a little more stable, with problems in north Africa contained." China's quarter-point interest hike, aimed at quelling overheating, had little impact as it was already built into market expectations, analysts said. For the third time in four months, Beijing announced the 25-basis point...

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

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