Dollar falls to 14-mth low vs euro on China report
By Satomi Noguchi TOKYO (Reuters) - The dollar fell to a 14-month low against the euro on Monday as a Chinese report saying Beijing should increase its holdings of euros and yen in its foreign reserves led investors to sell the greenback. The yen also got a boost from the opinion piece in the Financial News, a paper published by the People's Bank of China, which said that the dollar should remain the principal currency in China's foreign exchange reserves but that the share of euros and yen should increase. The euro's rise against the dollar was also helped by European Central Bank Governing Council member Christian Noyer making no comment on euro/dollar, which speculators took as an excuse to push the single currency higher. "The news is moving the market this morning to bring euro/dlr higher, with the pair looking very... [read full story]
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