The U.S. dollar was sold in early trade in Europe Friday, with a more optimistic mood taking a hold of the markets as central banks continue to work on getting dollar liquidity to all corners of global markets. The expansion of swap lines between the Fed and its counterparts elsewhere has meant demand for the key safe haven play has been lessened.
At 04:10 ET (08:10 GMT), EUR/USD traded at 1.0777, up 0.8%. The U.S. Dollar Index, which tracks the greenback against a basket of six other currencies, stood at 102.209, down 1.4%, while USD/JPY fell 0.9% to 109.73.
Late Thursday, the Federal Reserve said it would expand the currency swap lines to nine more countries, including central banks in Singapore, South Korea, Brazil, Sweden, Australia, New Zealand, Mexico, Norway and Denmark.
Source : Investing.com