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daivd147 03-09-2011 09:26 PM

Dollar slips on Portugal bonds auction
The U.S. dollar fell against major currencies in late New York trading on Wednesday as the euro rose despite that the Portuguese bonds was sold at a high yield.The Portuguese government sold 1 billion euros of two-year bonds on Wednesday Evening dresses, but at a high yield of 5.993 percent, up from 4.086 percent in a sale last September. Bids exceeded supply 1.6 times, also down from 1.9 in the September auction as concerns that the country will seek a bailout spread in the market.However, the euro edged higher against the dollar on Wednesday as the expectation of interest rate hike in the euro zone still provided strong support.Meanwhile, Britain's trade deficit gap narrowed in January wholesale jerseys, driving up the British pound against the dollar on Wednesday.According to a report from Britain's Office for National Statistics tiffany, the British goods trade deficit shrank to 7.1 billion pounds from an upwardly revised 9.7 billion pounds in December, beating economists' estimates of 8.6 billion pounds.The pound rose to 1.6205 against the dollar in early trading on Wednesday. The dollar index slipped to 76.689 from 76.796 in late Tuesday.In late Wednesday trading, the dollar bought 82.70 yen, comparing with 82.65 late Tuesday, and the euro rose to 1.3904 dollars from 1.3903.The British pound also rose to 1.6192 dollars from 1.6160. The dollar fell from 0.9356 to 0.9302 against Swiss francs, and also fell to 0.9688 Canadian dollars from 0.9714.

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