PipStory

On Tuesday in New York trading the dollar sell-off continued as rising U.S. equities helped yield-seeking investors slough off caution before this week’s key policy meetings.

Dollar continued to remain low

The dollar continued to remained near its intraday lows against a string of widely traded currencies in choppy trading. Analysts said that the dollar should continue to slide as risk appetite builds if stocks continue to extend their gains.

Investors turned to higher-yielding currencies

As most Asian shares and European stocks moved higher investors turned to higher-yielding currencies overnight, this triggered a new wave of risk-taking. High-yielding currencies have backed off their overnight highs in New York trading, but trading is somewhat volatile.

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In New York earlier Monday the dollar gave up some of its gains, it has dropped back to day-earlier levels against the euro, but as investors continue to adjust positions it remained slightly stronger against the yen.

Euro had been as low as $1.4611

In early morning trading, the euro had been as low as $1.4611, but it had recovered most of those losses to trade toward the top of the day’s range.

According to EBS via CQG, late morning in New York, it has been noted that the euro was at $1.4694 from $1.4699 late Friday. Whereas the dollar was at Y91.90 from Y91.44. The euro was at Y135.06 from Y134.41. The U.K. pound was at $1.6228 from $1.6232, while the dollar was at CHF1.0313 from CHF1.0297.

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