The U.S. dollar rose against major currencies in late New York trading on Tuesday as unpeace in Korean peninsula and concern on European debt crisis urged investors to seek risk-aversion investments.
Forces of the Republic of Korea and the Democratic People's Republic of Korea on Tuesday exchanged fires in waters off the west coast of the Korean Peninsula. The tension caused risk- aversion appetite to rise in the market and the dollar regained favor among investors.
Also, the euro still struggled as the concern about European debt problems kept growing. German Chancellor Angela Merkel said Ireland's crisis was different than Greece's but just as worrying and the euro was in an "exceptionally serious" situation.
The euro slumped all the way from 1.36 to below 1.34, without a sign of rebound against the dollar in Tuesday's trading session.
In contrast, the dollar index strongly climbed from 79.20 in early trading session to 79.665, 1.3 percent higher than Monday's closing level.
In late Tuesday trading, the dollar bought 83.18 Japanese yen, comparing with 83.29 late Monday, and the euro fell to 1.3374 dollars from 1.3616.
The British pound also fell to 1.5781 dollars from 1.5948. The dollar rose from 0.9906 to 0.9966 against Swiss francs, and rose to 1.0240 Canadian dollars from 1.0187.
Forces of the Republic of Korea and the Democratic People's Republic of Korea on Tuesday exchanged fires in waters off the west coast of the Korean Peninsula. The tension caused risk- aversion appetite to rise in the market and the dollar regained favor among investors.
Also, the euro still struggled as the concern about European debt problems kept growing. German Chancellor Angela Merkel said Ireland's crisis was different than Greece's but just as worrying and the euro was in an "exceptionally serious" situation.
The euro slumped all the way from 1.36 to below 1.34, without a sign of rebound against the dollar in Tuesday's trading session.
In contrast, the dollar index strongly climbed from 79.20 in early trading session to 79.665, 1.3 percent higher than Monday's closing level.
In late Tuesday trading, the dollar bought 83.18 Japanese yen, comparing with 83.29 late Monday, and the euro fell to 1.3374 dollars from 1.3616.
The British pound also fell to 1.5781 dollars from 1.5948. The dollar rose from 0.9906 to 0.9966 against Swiss francs, and rose to 1.0240 Canadian dollars from 1.0187.
