Investing.com – The U.S. dollar was broadly lower against its major counterparts on Monday, tumbling to an all-time low against the Swiss franc and a four-month trough against the yen as talks on raising the U.S. debt ceiling remained at a stalemate, bolstering safe haven demand.
During European afternoon trade, the greenback was lower against the euro, with EUR/USD rising 0.20% to hit 1.4386.
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 mortgage approvals in the U.K. rose slightly more-than-expected in June, as consumers pushed back expectations for a near-term interest rate hike by the BoE.
Elsewhere, the greenback was sharply lower against the yen and the Swiss franc, with USD/JPY shedding 0.41% to hit 78.21 and USD/CHF tumbling 1.93% to hit 0.8040.
In Japan, Finance Minister Yoshihiko Noda also said earlier that recent currency moves were one-sided and that he was closely watching market developments.
In addition, the greenback was lower against its Canadian and New Zealand counterparts but edged higher against its Australian cousin, with USD/CAD shedding 0.26% to hit 0.9455, NZD/USD inching up 0.09% to hit 0.8655 and AUD/USD dipping 0.02% to hit 1.0855.
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 0.28%.
Talks between President Obama and Republicans broke down late Friday, after the Senate rejected a USD3 trillion deficit reduction plan, adding to fears over a potential default ahead of August 2 deadline to raise the country’s USD14.3 trillion debt ceiling.
During European afternoon trade, the greenback was lower against the euro, with EUR/USD rising 0.20% to hit 1.4386.
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 mortgage approvals in the U.K. rose slightly more-than-expected in June, as consumers pushed back expectations for a near-term interest rate hike by the BoE.
Elsewhere, the greenback was sharply lower against the yen and the Swiss franc, with USD/JPY shedding 0.41% to hit 78.21 and USD/CHF tumbling 1.93% to hit 0.8040.
In Japan, Finance Minister Yoshihiko Noda also said earlier that recent currency moves were one-sided and that he was closely watching market developments.
In addition, the greenback was lower against its Canadian and New Zealand counterparts but edged higher against its Australian cousin, with USD/CAD shedding 0.26% to hit 0.9455, NZD/USD inching up 0.09% to hit 0.8655 and AUD/USD dipping 0.02% to hit 1.0855.
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 0.28%.
Talks between President Obama and Republicans broke down late Friday, after the Senate rejected a USD3 trillion deficit reduction plan, adding to fears over a potential default ahead of August 2 deadline to raise the country’s USD14.3 trillion debt ceiling.