Dollar Rises Against Euro, Kiwi, Aussie in Early Trades on Risk Aversion
12:00 AM @ Monday - 01 January, 1900
The U.S. dollar advanced against theeuro, the Australian and New Zealand currencies, extending gainsfrom last week that had come amid concern Europe’s sovereign-debt crisis will worsen.
The dollar climbed to $1.4167 per euro in early Asia-Pacific trading from $1.4205 at the end of last week in New York, and rose to 76.87 yen from 76.80 yen. The greenback strengthened against the New Zealand dollar to 84.44 cents from 84.81 cents and advanced to $1.0617 per Australian dollar from $1.0645.
The euro fell last week versus most peers as the premiumEuropean banks pay to borrow in dollars through the swaps marketincreased to the most since May 2010, a sign of concern thatofficials in the region are struggling to contain the fiscalcrisis.
The euro slid 4.2 percent to 1.1201 francs in the five daysended Sept. 2, the biggest decline since the 17-nationcurrency’s debut in 1999. The euro was down 2 percent last weekto $1.4205.