Dollar falls against most major currencies 2009-03-05 10:49:08   Print

Special Report: Global Financial Crisis

    NEW YORK, March 4 (Xinhua) -- The dollar fell against most major currencies on Wednesday.

    The euro bought 1.2639 dollars in late New York trading compared with 1.2590 dollars late Tuesday. The pound rose to 1.4156 dollars from 1.4077 dollars.

    The dollar fell to 1.2737 Canadian dollars from 1.2880 Canadian dollars, and fell to 1.1715 Swiss francs from 1.1748 Swiss francs.

    Investors were cheered after the U.S. government started a new program designed to help up to 9 million homeowners struggling to make their mortgage payments.

    A weak U.S. job report and a dismal Beige Book, a "state of the economy" type report, from the Federal Reserve didn't stop currency investors from taking risk.

    U.S. economic conditions deteriorated further during the reporting period of January through late February, the Federal Reserve said in its Beige Book report Wednesday.

    American employers cut a greater-than-expected 697,000 jobs in February, Automatic Data Processing (ADP) reported Wednesday. A weak ADP report usually would be followed by weak non-farm payroll data released by the U.S. Labor Department.

Editor: Xiong Tong
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