Euro jumps vs dollar on Wall Street selloff | Reuters - Firstpost
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Euro jumps vs dollar on Wall Street selloff | Reuters

Updated: Jan 8, 2016 01:45 IST

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NEW YORK The euro jumped against the dollar on Thursday as growing losses on Wall Street led investors, who had held euro-funded positions in which the low-yielding currency is borrowed and sold in favour in higher-yielding ones, to buy back the euro.

Major U.S. stock indexes .DJI .SPX .IXIC fell more than 2 percent on worries about the Chinese economy and falling oil prices.

The euro was up more than 1 percent against the greenback at $1.0896 EUR=; it hit a one-month low of $1.0709 two days ago.

The single currency EURJPY= was up 0.4 percent at 128.14 yen, rebounding from 126.75 yen, which was the lowest level since mid-April set earlier on Thursday.

(Reporting by Richard Leong; Editing by Meredith Mazzilli)

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