Dollar and Yen Fall on Increasing Risk Appetite

Both the dollar and the yen fell today as positive manufacturing and housing news convinced some investors to abandon the dollar in favor of riskier – but potentially higher profiting – stocks.

“Risk is back on the table,” said Samarjit Shankar, a managing director for the foreign-exchange group in Boston at BNY Mellon, the world’s largest custodial bank, with more than $20 trillion in assets under administration. “We are looking for a higher euro-dollar going forward. The gradual global recovery remains intact, even though we are going to see ebbs and flows of risk sentiment.”

Bloomberg

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