Dollar falls as Italian news boosts euro

The U.S. dollar fell against major currencies in late New York trading on Tuesday as the euro was bolstered by the news that Italian Prime Minister Silvio Berlusconi will resign. Berlusconi announced that he would resign after meeting with Italian President Giorgio Napolitano. Following the news the yield of the 10-year Italian bonds rose to 6.69 percent, near its highest level since the euro's inception. The euro gained against the dollar on Tuesday as Italian prime minister's resignation eased investors' concerns about the uncertainty of Italian debt problems. The Swiss franc lost ground in early trading on Tuesday against the dollar on speculations of further intervention by Swiss National Bank. The dollar index lost 0.46 percent to 76.61. In late Tuesday trading, the dollar bought 77.70 Japanese yen, comparing with 78.06 from late Monday. The euro rose to 1.3835 dollars from 1.3770. The British pound also rose to 1.6117 dollars from 1.6050. The dollar fell from 0.9013 Swiss francs to 0.8943, and also fell to 1. 0100 Canadian dollars from 1.0135.