Dollar mixed on Egypt unrest

February 3, 2011 11:21 am 

NEW YORK, Feb. 3 — The U.S. dollar traded mixed against major currencies in late New York trading on Wednesday as the unrest in Egypt lifted safe-haven investment.

The protests appeared to be escalating after the supporters and opponents of Egyptian President Hosni Mubarak scuffled, lifting risk-aversion appetite in the market.

The dollar extended gains against the euro and yen on Wednesday, as dollar regained favor by the investors in the market.

Also, European Central Bank officials will meet on Thursday to discuss monetary policy, which raised concern that the ECB might raise interest rate to curb inflation in euro zone.

Rating agency Standard & Poor's downgraded Ireland's credit rating on Wednesday, also weighed on the euro.

The euro fell below 1.38 against the dollar in late trading session, after hitting 1.3862, the highest level since early November.

The dollar index rebounded to 77.277 from 76.008 on Tuesday.

In late Wednesday trading, the dollar bought 81.63 yen, comparing with 81.40 late Tuesday, and the euro fell to 1.3798 dollars from 1.3820.

The British pound rose to 1.6166 dollars from 1.6139. The dollar rose from 0.9363 to 0.9420 against Swiss francs, but fell to 0.9884 Canadian dollars from 0.9922. (PNA/Xinhua)

DCT/LDV/ebp

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