United States dollar fell against most major currencies on Monday (13 / 9) local time, because China's strong economic data and new banking regulations of Basel III to support investors' confidence in risky assets, so the analysis in DailyFX.com.
The euro rose to 1.2880 dollars in New York at 2100 GMT from 1.2680 dollars on Friday (10 / 9). While the greenback dropped to 83.61 yen at 2100 GMT from 84.17 yen on Friday (10 / 9).
Against other major currencies, the dollar fell to 1.0076 Swiss francs from 1.0191 on Friday (10 / 9), while the British pound rose to 1.5428 dollars from 1.5350.
Meeting of leading central bankers and regulators in Basel, Switzerland on Sunday approved measures that require banks to boost their capital reserves substantially, as a buffer against future financial disturbances.
These new regulations will force banks to raise more than three times their current reserves, of about two percent to seven percent between 2013-2019.
Extension of period of calm fears among investors that improvements could reduce the recovery from the worst recession in decades that has been shaky, analysts said.
Optimism about the global recovery is also giving a new impetus after Beijing said on Saturday that China's industrial output rose 13.9 percent year-to-year in August, compared with 13.4 in July.
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