Comments eluding to extended low interest rates in the US helped the euro climb back near $1.50

A return of risk appetite and dovish comments from a Federal Reserve official put the dollar on the back foot, enabling the euro to climb a full cent but was again capped below 1.50.

• The dollar was broadly weaker on Monday as risk sentiment improved on the back of gains of equity and commodity markets.
  
• In addition, a Federal Reserve official affirmed expectations that US interest rates would remain low for some time.
  
• St. Louis Federal Reserve President James Bullard said on Sunday that the US central bank should keep its mortgage-related asset buying programme beyond a planned end-date in March.
  
• In the afternoon, positive US housing data further dampened the currency's safe-haven appeal.
  
• The report showed an above expectations jump in existing home sales in October, which further spurred the market's risk appetite and added to bearish US dollar momentum.
  
• In trading this morning, the greenback has recouped some of its losses, bringing the price down to 1.4900 following weaker Asian equities and some investors closed dollar-short positions ahead of the Thanksgiving holiday.