Dollar Slides Anew As Earnings Revive Investors

NEW YORK (AP) — The dollar resumed its decline Monday in New York as a handful of different U.S. companies posted better-than-expected earnings or said they expected improvements this year.

Ironically, good news on the U.S. economic front tends to undermine the dollar. That's because investors are more likely to move funds from the "safe," low-yielding buck and the Treasurys and other less-risky assets they can buy with it into currencies of emerging markets or other high-paying assets.

The dollar's low yield comes from the Federal Reserve holding the U.S. key interest rate at a range near zero, one of the lowest of the major economies, with warnings it will hold the rate there for some time.

In Monday trading, the 16-nation euro rose to $1.4944, just shy of a 14-month high of $1.4967 hit last week, from $1.4899 late Friday. The British pound climbed to $1.6370 from $1.6353, and the dollar dropped to 90.65 Japanese yen from 90.85 yen late Friday.

Against a basket of six currencies that includes the euro, yen and Swiss franc, the dollar has dropped about 16 percent from highs in early March.