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09:04, May 13, 2008 |
The dollar fell against the euro and the pound but rose against the yen on Monday as investors' appetite for risky carry-trades rose slightly.
A dip in oil prices and unexpectedly strong earnings from HSBC revived interest in carry-trades, helping to lift the high-yielding euro and pound.
Carry trades are strategies in which investors borrow low-yielding currencies to buy assets offering higher returns.
The pound was also boosted by data showing UK's factory gate inflation shot up in April and stood far above expectations.
The output price index of UK rose at a pace of 7.5 percent year-on-year in April, much faster than the revised 6.5 percent in March, according to a report released on Monday. The April inflation is the fastest since records started in 1986.
The euro bought 1.5540 dollars in late New York trading compared with 1.5480 dollars it bought late Friday. The British pound rose to 1.9566 dollars from 1.9519 dollars.
The dollar rose to 1.0444 Swiss francs from 1.0410 Swiss francs, and rose to 104.17 Japanese yen from 103.09 Japanese yen. It fell to 1.0050 Canadian dollars from 1.0068 Canadian dollars.
Source:Xinhua
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