Tue, August 07, 2012
NEW YORK, Aug. 7 (Xinhua) -- The U.S. dollar fell against major currencies in late New York trading as investors expected more monetary stimulus policies would be launched by central banks.
Eric Rosengren, the president of the Federal Reserve Bank of Boston, said Tuesday that he did not expect the U.S. economy to improve in the second half of the year and reiterated his call for the Federal Reserve, the U.S. central bank, to expand monetary policy and called for more quantitative easing.
Also, Mario Draghi, the president of the European Central Bank (ECB), signaled last week that the central bank is considering another round of bond purchasing program.
Meanwhile, German industrial orders fell more than expected in June, raising investors' expectations for further easing policies from the ECB.
The hopes for more action by the central banks raised risk appetite in the market as investors moved away from the safe haven dollar. The dollar index lost 0.054 to 82.250 on Tuesday.
In late Tuesday trading, the dollar bought 78.65 Japanese yen, compared with 78.22 from late Monday. The euro rose to 1.2410 dollars from 1.2399.
The British pound also rose to 1.5640 dollars from 1.5611. The dollar fell from 0.9692 Swiss francs to 0.9682, and also fell to 0. 9967 Canadian dollars from 0.9992.
