Shutterstock photo
Markets

Forex - Dollar down vs. most rivals as Greek debt fears wane

Shutterstock photo

Shutterstock photo

Forex Pros - The U.S. dollar was lower against most of its major counterparts on Tuesday, while the euro advanced as concerns over Greek debt eased but investors remained wary ahead of a vote of confidence in the Greek parliament later in the day.

During European morning trade, the greenback was down against the euro, with EUR/USD climbing 0.27% to hit 1.4342.

The euro found support after Klaus Regling, chief of the European Financial Stability Facility said Monday that the effective lending capacity of the bailout fund would be increased.

But the greenback was higher against the pound, with GBP/USD slipping 0.15% to hit 1.6177.

Official data released earlier showed that U.K. public sector net borrowing rose less-than-expected in May.

Meanwhile, the greenback was lower against the yen and the Swiss franc, with USD/JPY dipping 0.05% to hit 80.20 and USD/CHF shedding 0.27% to hit 0.8439.

Elsewhere, the greenback was down against its Canadian and New Zealand counterparts but up against its Australian cousin, with USD/CAD slipping 0.19% to hit 0.9779, NZD/USD rising 0.33% to hit 0.8128 and AUD/USD dipping 0.10% to hit 0.8128.

Earlier in the day, the minutes of this month's Reserve Bank of Australia policy meeting said it was "prudent" to keep interest rates unchanged, amid concerns that the sovereign debt crisis in the euro zone could worsen.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.19%.

Later Tuesday, the U.S. was to publish industry data on existing home sales.

Forex News

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx

Latest Markets Videos