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RPT-Euro rises, commodity currencies rally versus dollar
November 7, 2012 / 7:56 AM / in 5 years

RPT-Euro rises, commodity currencies rally versus dollar

LONDON, Nov 7 (Reuters) - The euro and commodity currencies like the Australian and Canadian dollars rose against the U.S. currency on Wednesday after President Barack Obama’s victory ensured the Federal Reserve’s quantitative easing would stay.

The euro rose to a session high of $1.28765 on trading platform EBS as the dollar came under broad pressure.

The Australian dollar rose to a seven-week high of $1.0480 while the Canadian dollar gained to a near three week high against the U.S. dollar. The U.S. currency fell to a low of C$0.9875.

The Fed’s easy monetary policy usually bolsters appetite for riskier assets and currencies while keeping the U.S. dollar under pressure.

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