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.
