CURRENCIES: Dollar Gains On Euro In Asian Trading
By Lisa Twaronite
The dollar rose against the euro in Asian trading Tuesday.
The euro was buying $1.4933, down from $1.4999 in North American trading
Monday.
But the dollar edged lower against the Japanese currency, a low-yielding
rival, to trade at 88.69 yen, down from 89.07 yen late Monday.
December gold was down during the Asian session.
"Gold's inability to extend gains took the wind out of the sails of risk bulls
and it was risk off in Asia," said Sue Trinh, senior currency strategist at RBC
Capital Markets in Sydney.
The Japanese yen and U.S. dollar outperformed, she said in a daily research
note, while the Australian, Canadian and New Zealand dollars were the major
underperformers.
The precious metal recovered early on in Europe, recently trading up $2.20 to
$1,166.90.
On Monday, the dollar marked its biggest slump in two weeks against major
counterparts, after a Federal Reserve official's call to extend some of the
central bank's stimulus measures suggested interest rates will remain low
indefinitely.
(END) Dow Jones Newswires
11-24-090432ET
Copyright (c) 2009 Dow Jones & Company, Inc.
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