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10-01-2009, 04:53 AM #1
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Dollar Falls as Signs of Global Recovery Spur Demand for Ris
Dollar Falls as Signs of Global Recovery Spur Demand for Risk
By Ye Xie and Matt Townsend
Sept. 30 (Bloomberg) -- The dollar dropped against most of its major counterparts and posted a second straight quarterly loss against the euro as evidence the global economy is recovering boosted demand for higher-yielding assets.
The Swiss franc fell from almost a three-month high versus the euro on speculation the central bank sold the currency to curb its gain. The greenback declined as the International Monetary Fund cut its projection for writedowns and the European Central Bank said it will lend banks less than economists forecast in its second 12-month auction of unlimited funds.
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