On Wednesday the dollar has shown a drop to a 14-month low against a basket of currencies and the euro, dented by anticipations that solid JPMorgan Chase results and rising stock and commodity prices bode well for an improving global economy.

Sharp rise in third-quarter JPMorgan results

A sharp rise in third-quarter results has been reported by JPMorgan Chase & Co (JPM.N) as underwriting revenue at its investment bank offset deeper losses on credit cards and other consumer loans.

Reduction in the attractiveness of U.S. assets

At this time the U.S. dollar remained under broad selling pressure on anticipations that the U.S. interest rates will stay at very low levels for some time.

The attractiveness of U.S. assets will be reduced by the low rates and it will ease demand for the dollars to buy them.

In early New York trade, the euro after going to its highest since August 2008 was last up 0.3% $1.4900 EUR= .

Dollar fell against Yen

The dollar fell 0.2% to 89.55 against the yen JPY=.

Dollar index .DXY, slid to 75.436

The dollar index .DXY, slid to 75.436, a trough last seen in August 2008. It is the index which tracks the dollar’s value against a basket of currencies. The Swiss franc CHF= has rose to around 1.0167 francs versus the dollar, which is its highest since July 2008.

Crude oil and Gold prices Jumped

As U.S. crude oil prices jumped to a 2009 high and gold prices reached to a record high, the Australian and Canadian dollars AUD= CAD= also hit their strongest since August 2008, while the Norwegian crown NOK= has raised up to its firmest since September 2008.

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