The dollar fell against major currencies on Wednesday amid renewed worries about the U.S. financial sector.
Investors speculated that losses at Fannie Mae and Freddie Mac, the largest sources of financing for U.S. home loans, would deepen. The two government-sponsored lenders are among the hardest hit in the credit crisis.
Fannie Mae sold 3 billion dollars of debt on Wednesday at record yield spreads over benchmark rates on concern the company does not have enough capital to compensate for losses from the housing slump.
The euro bought 1.5746 dollars in late New York trading compared with 1.5657 dollars it bought late Tuesday. The British pound rose to 1.9818 dollars from 1.9689 dollars.
The dollar fell to 1.0291 Swiss francs from 1.0335 Swiss francs, and fell to 106.83 Japanese yen from 107.45 Japanese yen. It fell to 1.0111 Canadian dollars from 1.0202 Canadian dollars.
Source:Xinhua
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