FOREX-Dollar falls amid stock market recovery; risk currencies advance

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By Ritvik Carvalho

LONDON, Feb 1 (Reuters) – The dollar fell on Monday amid a rally in equity markets, while riskier currencies such as the British pound and the Australian dollar appreciated.

* The yen halted a three-day series of losses, advancing against the dollar after hitting its lowest level in two months last week.

* The US currency declined against most of its peers, as European and Asian stocks traded higher after four straight days of declines.

* Previously, the greenback found support because traders remained concerned that retail investors who organized online could continue their businesses to take on hedge funds, leading to more volatility.

* However, investors’ attention seems to be focusing on silver for now. Spot silver prices rose nearly 9% in early London trading.

* ING strategists said silver’s advance “stands out” in a relatively weak commodity market for commodities and currencies this week.

* Against a basket of currencies, the dollar was trading flat in a tight range, after rebounding from a three-year lows of 89.206 at the beginning of the year.

* The pound benefited by rising 0.3% on the day to $ 1.372. The euro was down 0.2% at $ 1.2111.

(Report by Ritvik Carvalho. Edited in Spanish by Marion Giraldo)

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