Thursday, February 3, 2011

Forex | Morning Overview | 3 February 2011

Forex | Morning Overview | 3 February 2011

The euro fell against the safe-haven dollar and yen in Asia Thursday due to concerns over political unrest in Egypt, and dealers said the single currency could fall further on the outcome of a European Central Bank policy board meeting.

As of 0450GMT, the euro was at USD1.3794 from USD1.3810 in New York Wednesday, and at JPY112.63 from JPY112.64. Dealers said ongoing political turmoil in the Middle East has prompted investors to sell the euro.

The greenback was at JPY81.64 from JPY81.55, and the ICE Dollar Index, which tracks the U.S. dollar against a trade-weighted basket of currencies, was at 77.162 from 77.086.

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