Markets
US dollar extends losses after US factory data
NEW YORK : The dollar extended losses against the euro and Swiss franc on Thursday after a gauge of US factory activit
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NEW YORK: The dollar extended losses against the euro and Swiss franc on Thursday after a gauge of US factory activity in the Mid-Atlantic showed contraction for a second straight month in September.
The euro rose about 1 percent according to electronic trading platform EBS after the announcement and last traded at $1.3862, still up 0.9 percent on the day.
The euro was already trading broadly higher on news that the European Central Bank would, alongside with other major central banks reintroduce three-month dollar liquidity tenders in the fourth quarter.
Against the Swiss franc, the dollar dropped around 1 percent after the data, but last traded at 0.9692, still down 0.8 percent on the day.
Copyright Reuters, 2011
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