Markets & Finance

Dollar Plunges After Report of Chinese Monetary Policy

MARKETSCOPE : The dollar plunged on Monday, after a report that a member of the People's Bank of China's Monetary Policy Committee suggested Beijing should not be so reliant on the dollar.

The dollar index fell 1.16 to 90.32.

The greenback fell to 119.66 yen after reports that Japanese consumer credit rose.

The euro was up at $1.1955 after rising last week amid comments from European Central Bank members that indicated the policymakers might raise their key rate sooner than expected.

The sterling was up at $1.7755, after the Confederation of British Industry's December survey of U.K. manufacturing rose to -22 from -25 in November.

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