Investing.com – The U.S. dollar was broadly lower against its major counterparts on Monday, as safe havens such as the Swiss franc and the yen surged, boosted by mounting fears over a U.S. default as talks on raising the U.S. debt ceiling remained deadlocked.
During European morning trade, the greenback slipped against the euro, with EUR/USD easing up 0.16% to hit 1.4382.
Earlier Monday, ratings agency Moody's cut Greece’s sovereign debt rating by three notches to Ca, just one notch above default, saying the new aid package set a negative precedent for the creditors of other indebted nations.
The greenback was almost unchanged against the pound, with GBP/USD dipping 0.01% to hit 1.6298.
Industry data showed earlier that British mortgage approvals rose slightly more-than-expected in June.
Elsewhere, the greenback was sharply lower against the yen and the Swiss franc, with USD/JPY shedding 0.48% to hit 78.16 and USD/CHF tumbling 1.83% to hit 0.8047.
In Japan, Finance Minister Yoshihiko Noda also said earlier that recent currency moves were one-sided and that he was closely watching market developments.
Meanwhile, the greenback advanced against its Canadian and Australian counterparts but dipped against its New Zealand cousin, with USD/CAD rising 0.26% to hit 0.9504, AUD/USD shedding 0.37% to hit 1.0817 and NZD/USD inching up 0.09% to hit 0.8654.
Earlier in the day, official data showed that Australian producer price inflation rose more-than-expected in the second quarter.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.23%.
Also Monday, White House Chief of Staff Bill Daley said that there would be a "few stressful days" ahead for financial markets, after the U.S. Senate rejected a USD3 trillion deficit reduction plan on Friday, adding to fears over a possible downgrade or default ahead of the August 2 deadline to raise the country’s USD14.3 trillion debt ceiling.
During European morning trade, the greenback slipped against the euro, with EUR/USD easing up 0.16% to hit 1.4382.
Earlier Monday, ratings agency Moody's cut Greece’s sovereign debt rating by three notches to Ca, just one notch above default, saying the new aid package set a negative precedent for the creditors of other indebted nations.
The greenback was almost unchanged against the pound, with GBP/USD dipping 0.01% to hit 1.6298.
Industry data showed earlier that British mortgage approvals rose slightly more-than-expected in June.
Elsewhere, the greenback was sharply lower against the yen and the Swiss franc, with USD/JPY shedding 0.48% to hit 78.16 and USD/CHF tumbling 1.83% to hit 0.8047.
In Japan, Finance Minister Yoshihiko Noda also said earlier that recent currency moves were one-sided and that he was closely watching market developments.
Meanwhile, the greenback advanced against its Canadian and Australian counterparts but dipped against its New Zealand cousin, with USD/CAD rising 0.26% to hit 0.9504, AUD/USD shedding 0.37% to hit 1.0817 and NZD/USD inching up 0.09% to hit 0.8654.
Earlier in the day, official data showed that Australian producer price inflation rose more-than-expected in the second quarter.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.23%.
Also Monday, White House Chief of Staff Bill Daley said that there would be a "few stressful days" ahead for financial markets, after the U.S. Senate rejected a USD3 trillion deficit reduction plan on Friday, adding to fears over a possible downgrade or default ahead of the August 2 deadline to raise the country’s USD14.3 trillion debt ceiling.