Dollar index at 14-mth low, euro 13-mth high $1.4872

Related Topics

LONDON | Tue Oct 13, 2009 7:21am EDT

LONDON Oct 13 (Reuters) - The euro hit a 13-month high against the dollar on Tuesday, successfully taking out options barriers at $1.4850 in a session marked by increasingly bearish sentiment toward the low-yielding dollar.

This helped push the dollar index, a measure of the greenback's value against six major currencies, down half a percent on the day to a 14-month low of 75.757 .DXY.

Dealers had reported big euro options barriers and expiries at $1.4850. With gold hitting a new record high at $1,068 an ounce XAU= and the dollar coming back under increasing selling pressure, they finally pushed the euro up through $1.4850.

The euro rose as high as $1.4872, according to Reuters data.

The options-related moves in major currencies also saw the Australian dollar take out barriers at $0.91 AUD= and hit a 14-month high of $0.9117. Gold and oil were both up over 1 percent on the day.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.