Euro falls against dollar to $1.3890 (AP)
FRANKFURT (AP) — The euro continued to fall against the dollar Wednesday as investors moved more assets into the safety of the American currency.
The 16-nation euro bought $1.3890 in European morning trading, down from $1.3927 late Tuesday in New York.
The British pound bought $1.6111, also down from the $1.6153 the night before.
“Dollar dominance continues as the mood darkens in financial markets,” James Hughes, a currency analyst at CMC Markets said.
“There are ongoing concerns as to the economic outlook, investors are jittery and as a result the safe haven plays are growing in popularity.”
Asian markets tumbled Wednesday, along with commodity prices and hopes for a rapid recovery of the global economy.
In other trading, the dollar bought 94.38 Japanese yen, down from 94.81 late Tuesday in New York.
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Euro falls against dollar to $1.3890 (AP)
