The dollar slid to a 14-month low against a basket of currencies and the euro on Wednesday, dented as solid JPMorgan Chase results, rising equities and commodities stoked optimism about an improving global economy.
JPMorgan Chase & Co (JPM.N) reported a sharp rise in third-quarter results as underwriting revenue at its investment bank offset deeper losses on credit cards and other consumer loans.
The buoyant results followed forecast-beating earnings from Intel Corp (INTC.O) late on Tuesday and upbeat Chinese trade data on Wednesday, all of which helped brighten the economic outlook and encouraged investors to move into perceived riskier and higher-yielding currencies.
The U.S. dollar meanwhile remained under broad selling pressure on expectations that U.S. interest rates will stay at very low levels for some time.
A rally in the dollar against the yen after U.S. retail sales data showed a smaller than expected decline was shortlived.
"On the back of a solid start to earnings season and strong trade and loan growth releases from China, investors are widely seeking risk today," said Camilla Sutton, currency strategist at Scotia Capital in Toronto in a note to clients. "This has helped push equities and commodities higher and the USD and bond prices lower."
The euro rose 0.2 percent $1.4889. Against the yen, the dollar fell 0.1 percent to 89.64.
