Forex news: dollar slips vs majors on Asian stocks increase

Thursday, during early Asian deals US currency lost ground against its main rivals as gains in Asian stocks boosted investors to turn toward higher-yielding assets.

 Asian shares edged up today as investors continued to favor riskier assets on further signs that the global economy is picking up, while a weak dollar sent gold to another record high.

 Asian stocks were also upheld by gains on Wall Street where the Dow Jones index hit a fresh 13-month high, helped by an upbeat revenue forecast from luxury homebuilder Toll Brothers Inc.

 Against the European currency, the US dollar edged down during early Asian deals on Thursday. At 7:35 pm ET, the dollar touched a low of 1.5017 against the euro, compared to 1.4988 hit late New York Wednesday. The next downside target level for the dollar is seen around 1.506.

The greenback that closed Wednesday's North American session at 1.6577 against the British pound declined to 1.6628 during Thursday's early Asian trading. If the dollar falls further, 1.693 is seen as the next target level. Cable is currently trading at 1.6607

 Against the Swiss franc, the US currency showed weakness during today's early Asian deals. At 7:30 pm ET, USD/CHF pair slipped to 1.0062, compared to Wednesday's closing value of 1.0081. The pair is presently trading at 1.0068 with 0.993 seen as the next target level.

 The dollar that closed Wednesday's New York deals at 89.86 against the Japanese yen hit a low of 89.69 at 8:35 pm ET. On the downside, 89.2 is seen as the next target level.