Ireland Formally Applied For Assistance To &Nbsp; &Nbsp; Dollar Exchange Rate Rose On Monday.

Beijing time on the morning of November 23rd,

At the close of the foreign exchange market, the US dollar index for tracking six major currencies was 78.66 points, or 0.20%.

The index rose to 78.884 points earlier on Monday.

The euro fell to 0.42% against the dollar on Monday at $1.3615, and it rose to $1.3632 in early trading on Monday, which was $1.3790 earlier in the European trading session.

The euro's first driving force came from Ireland's good news for aid.

The Irish government announced late Sunday that it has begun formal negotiations with the International Monetary Fund and the European Union on financial aid programmes.

According to economists, the scale of the rescue plan may be between 80 billion euros and 90 billion euros (between 109 billion and 123 billion dollars), mainly to reduce the budget deficit of the Irish government and to fix problems in the financial system of the country.

However, early Monday, rating agency Moodie Investor Service announced that Ireland's current Aa2 sovereign rating is under review and may face the risk of "multi-level downgrades".

Moodie's Investor Service said in Monday's credit rating outlook report that Ireland's acceptance of external assistance could further exacerbate the government's debt burden.

On the other hand, the Irish Green Party issued a statement on Monday that the budget will be confirmed in 2011, and that the EU will withdraw from the current coalition government after its assistance is in place.

This will be a major blow to the ruling position of Irish Prime Minister Blaine Cowen.

Brad Bakht M, managing director of Fallows trading company, said that the latest development of the situation "strengthened the market's risk aversion", and the euro's overnight advantage was lost.

"The risk aversion has been raised again since the start of the trading session in New York, especially before the major market holidays.

The US market will be closed on Thanksgiving Thursday and resume trading on Friday.

The US stock market opened lower on Monday, and the Dow Jones Industrial Average ended down 24.97 points, while in the previous intraday paction, the index fell more than 100 points.

Ireland's decision to accept aid is a relief for the eurozone debt crisis as a whole, but economists also point out that the current worries about sovereign debt in the eurozone have not been lifted.

The market also takes into account that the financial situation of many euro zone countries, including those who have received assistance and Ireland, will remain worrying. Whether or not they have the ability to avoid the restructuring of national debt is still a big problem.

Yields on Irish, Portuguese and Greek bonds continued to rise on Monday.

Brown Brothers Harriman Ltd analyst Wen Sheng said in Monday's report, "if the negative sentiment against the euro countries continues, we think the euro will return to the low US $1.3460 in November, which will cut the euro's growth rate from September to November by half."

In other currencies, the pound fell 0.17% against the dollar, closing at 1.5947 dollars; the Australian dollar closed at 98.67 cents, rising 0.11%; the US dollar against Japanese yen closed at 83.28 yen, or 0.26%, on Monday.