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The dollar fell on Monday against the euro and the British pound, amid an improved appetite for riskier assets and a rally in the European stock market.
Monday’s survey showed investor sentiment in the eurozone improved in November for the first time in three months, reflecting hopes that a recent temperature shift and lower energy prices would reduce the need for gas rationing on the continent this winter.
The pan-European Stoxx 600 index rose 0.5% with traders indicating that investors still bet China will ease anti-Corona restrictions, despite its officials announcing that they do not plan to reopen imminently.
Against a basket of currencies, the dollar index, which is considered a safe haven, fell 0.54 percent to 110.49. And he had lost nearly two percent at the end of trading last week.
Expectations that China will make fundamental changes in its approach to combating COVID-19 in the coming months fueled a surge in riskier assets on Friday.
But on Monday, the offshore yuan fell 0.8 percent against the dollar to 7.2347 after China said over the weekend that it would continue its tough approach to handling COVID-19 cases as they emerged.
The Australian and New Zealand dollars, which are sensitive to risks, fell sharply in Asian trading, but recovered as European markets opened.
The pound, which is also sensitive to risks, compensated for its losses in early trading, rising 0.66 percent to 1.1446 countries, while the euro jumped to its highest level since October 27. The euro rose 0.27 percent in the latest trading to $ 0.9986.
