US dollar soars after holiday weekend

New York, Feb 17 (IANS) The US dollar rose against other major peers on Tuesday after an extended holiday weekend.

The greenback increased nearly 0.7 percent against the Japanese yen as a rebound across the global equity market dented investors’ appetite for safe-haven assets, Xinhua reported.

On the US economic front, the February 2016 Empire State Manufacturing Survey released on Tuesday indicates business activity continued to decline for New York manufacturers.

The headline general business conditions index edged higher, but remained firmly in negative territory.

The dollar index, which measures the greenback against six major peers, was up 0.96 percent at 96.861 in late trading.

In late New York trading, the euro fell to 1.1142 dollars from 1.1256 dollars of the previous session, and the British pound decreased to 1.4291 dollars from 1.4515 dollars. The Australian dollar went down to 0.7101 dollars from 0.7103 dollars.

The dollar bought 113.88 Japanese yen, higher than 113.24 yen of the previous session. The dollar moved up to 0.9883 Swiss francs from 0.9758 Swiss francs, and it climbed to 1.3877 Canadian dollars from 1.3842 Canadian dollars.

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