The US dollar was down against the euro

[gnutrade.satya]

The US dollar was down against the euro as strong Chinese economic data boosted investor confidence in the global economic recovery, encouraging money flows into riskier currencies. New Chinese data showed factories ramped up production last month and money growth beat expectations, backing the view that the markets outlook had grown too gloomy.
Matthew Strauss, senior strategist at RBC Capital Markets in Toronto said: "There's no doubt that risk appetite has returned, and the strong Chinese data reduces the risk of a global double-dip recession."
Brian Dolan, chief strategist at Forex in Bedminster, New Jersey said: "People are getting short-term encouragement from recent data but still have long-term concerns."
The euro rose 0.9 percent to 107.67 yen. The euro rose about 1.6 pct to around $1.2892. The dollar fell 1.2 percent to 1.0074 Swiss francs. The dollar fell 0.7 percent to 83.61 yen.