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NEW YORK: The US dollar on Wednesday fell against the euro and rose against the yen as traders regained confidence in the European market after Portugal's successful debt bond auction and strong German data.
The greenback traded for 83.92 yen at 2100 GMT, eight cents higher from its value late Tuesday, not before sinking to a 15-year low of 83.35 yen at 0345 GMT on Wednesday.
The euro was up to 1.2718 dollars in New York at 2100 GMT from 1.26783 dollars late Tuesday.
News that the Portuguese government successfully issued debt bonds eased concerns that the European banking system was reported to hold more risky government debt than thought.
Data showing Germany's industrial output edged 0.1 per cent higher in July from the June level and an increase in German exports further bolstered optimism.
"There is encouraging news out of Europe which help rekindle risk appetite," said Samarjit Shankar, managing director a asset management firm BNY Mellon.
The reassuring news from Europe was later slightly dampened with the release of the Federal Reserve's beige book report that said the US economy was showing "widespread" signs of deceleration.
The steady rise in the yen, which has come despite action by the Bank of Japan, has unsettled Japanese authorities who see it as a threat to exports and ultimately to economic recovery.
Against other key currencies, the dollar was up to 1.0112 Swiss francs from 1.0108 on Tuesday while the British pound rose to 1.5470 dollars from 1.5355. - AFP/fa
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