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Special Report: Global Financial Crisis

NEW YORK, March 10 (Xinhua) -- The dollar was mixed against major currencies on Tuesday after stock markets rose on a profit report from Citigroup, the banking giant struggling in the financial crisis.

Investors were cheered after Citigroup Chief Executive Vikram Pandit said the bank was profitable during the first two months of the year.

"In fact, we are profitable through the first two months of 2009 and are having our best quarter-to-date performance since the third quarter of 2007," Pandit told staff in an open letter.

Shares of Citigroup rose 38 percent on Tuesday, lifting financial stocks and sending the Dow Jones Industrial Average up for 379 points, or almost 6 percent. The dollar weakened against some currencies as the rally in stock markets hurt safety haven demand for the U.S. currency.

But market sentiment is still very fragile, analysts said. Some doubt that Citigroup could get back on track soon, and almost nobody thinks the market has hit its bottom. The greenback was expected to remain relatively strong in near future with support from risk aversion trading.

The euro bought 1.2637 dollars in late New York trading compared with 1.2629 dollars it bought late Monday. The pound fell to 1.3723 dollars from 1.3800 dollars.

The dollar fell to 1.2881 Canadian dollars from 1.2959 Canadian dollars, and rose to 1.1637 Swiss francs from 1.1587 Swiss francs. It was unchanged at 98.85 Japanese yen.





Editor: An