FRS: US: Dollar drops to one-month low vs major currency basket
The dollar fell to a one-month low on Wednesday against a basket of six major currencies as stronger-than-expected U.S. corporate earnings and economic data boosted hopes for a U.S. recovery.
The dollar index fell to a session low of 79.341 .DXY, its lowest level since June 11, according to Reuters data. It was last down about 0.9 percent from late Tuesday.
The index gauges the dollar's value against the euro, yen, sterling, Swiss franc, Canadian dollar and Swedish crown. The dollar tends to fall when risk appetite rises because investors shun it in favor of higher-yielding currencies and assets.
