Dollar rises amid recession worries

NEW YORK, Nov. 11 (Chinese media) -- The dollar rose against most major currencies on Tuesday amid worries over a global economic recession.

Major stock markets in Asia, Europe and U.S. fell across the board on Tuesday, further dampening risk appetite in financial markets. Market confidenc

Disappointing corporate news also added to worries over economic growth. Circuit City Stores, America's second-biggest electronics retailer, filed for bankruptcy protection Monday. It was the largest U.S. retailer to file for bankruptcy in the current economic crisis.

Fannie Mae, the largest provider of funding for U.S. residential mortgages, said Monday that it lost a record 29 dollars billion in the third quarter. Deutsche Post AG said it will slash 9,500 jobs and halt U.S. domestic services at its delivery company DHL Express.

Analysts said low-yielding currencies would remain strong as risk aversion and deleveraging would dominate foreign exchange trading in the next few weeks.

The euro bought 1.2531 dollars in late New York trading compared with 1.2764 dollars it bought late Monday. The pound fellto 1.5401 dollars from 1.5602 dollars.

The dollar rose to 1.1866 Swiss francs from 1.1789 Swiss francs, and fell to 97.68 Japanese yen from 97.88 Japanese yen. It rose to1.2030 Canadian dollars from 1.1934 Canadian dollars.