Dollar appreciates relative to the euro:

Yen, Dollar Rise as CIT Bankruptcy Concern Spurs Safety Demand

July 22 (Bloomberg) — The yen and the dollar strengthened for a second day against the euro on renewed concern U.S. commercial lender CIT Group Inc. will file for bankruptcy, boosting demand for safer assets.

The yen rose against all 16 major currencies after CIT said it expected to post a loss of more than $1.5 billion and its “existing liquidity” is not enough to repay maturing notes. Australia’s dollar fell as a government report showed the annual inflation rate dropped, backing the case for the central bank to keep interest rates low. The pound weakened after an industry group said the house-price slump will persist, backing the case for policy makers to keep borrowing costs low.