New York, Jan 16 | The US dollar decreased in late trading on Wednesday on rising risk appetite from investors’ improving sentiment.
In late New York trading, the euro rose to $1.1150 from $1.1129 in the previous session, and the British pound fell to $1.3024 from $1.3028 in the previous session, Xinhua reported. The Australian dollar was down to $0.6903 from $0.6904.
The US dollar bought 109.92 Japanese yen, lower than 109.98 Japanese yen of the previous session. The US dollar was down to 0.9638 Swiss franc from 0.9673 Swiss franc, and it decreased to 1.3042 Canadian dollars from 1.3058 Canadian dollars.
The US dollar could face some losses though as currencies that felt stuck and under pressure based on trade woes can take a breather from the signing of phase-one trade deal between the US and China, according to US foreign exchange and international payment services company Tempus Inc.
Meanwhile, British pound depreciated against the US dollar resulting from weak consumer price index in December 2019 and renewed expectation on interest rate cut in British central bank in January.
British consumer price index in December 2019 stood unchanged from the previous month in comparison of market expectation of 0.2 per cent month-on-month expansion, according to data issued on Wednesday.
The dollar index, which measures the greenback against six major peers, decreased 0.14 per cent to 97.2310.