NEW YORK, March 5 (Xinhua) -- The U.S. dollar continued falling against major currencies on Tuesday as market risk appetite expanded, with major U.S. stock indices rallying to record highs.
Shortly after the U.S. stock market opened, the Dow Jones Industrial Average broke through the all-time high in October 2007 and refreshed all-time closing high after Tuesday's trading.
U.S. service data helped lift market confidence on Tuesday. The Institute for Supply Management reported on Tuesday that the non- manufacturing index rose to 56 in February to 55.2 in January, an evidence of ongoing economic recovery.
As market sentiment significantly improved, investors were inclined to purchase riskier assets, pushing up the euro/dollar rate.
The euro was also lifted by upbeat eurozone consumption data. The European Union statistics office said Tuesday that retail sales in the eurozone unexpectedly jumped 1.2 percent in January after dropping 0.8 percent in the previous month.
The European Central Bank will hold its policy meeting on Thursday and investors are watching closely over its decision on interest rate. Investors were also awaiting U.S. job data for February to be released on Friday.
In late New York trading, the euro rose to 1.3041 dollars from 1.3024 dollars of the previous session and the British pound slightly climbed to 1.5113 from 1.5112 dollars.
The dollar edged up to 0.9418 Swiss franc from 0.9411 and dropped to 1.0278 Canadian dollars from 1.0279. The dollar bought 93.29 Japanese yen, lower than 93.44 in the previous session.
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