NEW YORK: The dollar edged back against the euro, pound and Swiss franc on Wednesday, as fears of a fresh round of European crisis eased slightly.
A day after investors anxiously tracked the rising cost of borrowing for Spain and Italy, there was something of a snapback for the euro as borrowing pressures eased and investors regained some risk appetite.
"Sentiment was higher today as EU sovereign yield spreads eased and after the Fed's Beige Book indicated that the US economy continued to expand at a modest to moderate pace," said Eric Viloria of Forex.com.
The European single currency edged higher to $1.3110 from $1.3080 late in New York on Tuesday.
"Overall, the news flow had a more risk supportive tone and saw risky assets advance and while the dollar and the yen traded softer on the day," said Viloria.
The dollar rose slightly to 80.86 yen from 80.66 the day before.
The pound was up against the dollar, rising to $1.5906 from $1.5869.
Against the Swiss franc, the dollar fell to 0.9172 from 0.9182.
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