NEW YORK, July 13 (Xinhua) -- The dollar fell slightly against most major currencies on Monday as financial stocks jumped and drove the entire market up.
U.S. bank stocks rise after Meredith Whitney, founder of Meredith Whitney Advisory Group LLC, gave positive comments on Goldman Sachs and Bank of America. Rising stocks improved risk appetite in currency trading, driving the dollar lower.
Investors are waiting for some governmental economic reports and quarterly results of major U.S. banks, including Citigroup, Goldman Sachs, JP Morgan & Chase and Bank of America. Results of Intel and Johnson & Johnson are also due later this week.
Risk appetite in currency trading has been rising in the previous weeks, helped by some positive economic data. But a worse-than-expected non-farm payroll report and consumer sentiment report released recently sparked fresh worries over economic recovery. The market is looking for trading clues from new economic data and profit results.
The euro bought 1.3977 dollars in late New York trading compared with 1.3947 dollars it bought late Friday. The pound rose to 1.6211 dollars from 1.6192 dollars.
The dollar fell to 1.1532 Canadian dollars from 1.1631 Canadian dollars, and fell to 1.0831 Swiss francs from 1.0845 Swiss francs. It rose to 92.82 Japanese yen from 92.34 Japanese yen.
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