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.
