0
 
Popular Searches
SCOTTRADE ACCOUNT IT'S TIME. It's time for an easier way to invest. Open a Scottrade Account
Apply Now

Forex - Dollar edges higher ahead of Greece debt talks

ForexSep 14, 2011 10:48AM ET
 

Investing.com – The U.S. dollar edged higher against almost all of its major counterparts on Wednesday, amid uncertainty ahead of a scheduled conference call between the leaders of Greece, France and Germany to discuss progress on Greece’s bailout.

During U.S. morning trade, the greenback was slightly higher against the euro, with EUR/USD slipping 0.06% to hit 1.3669.

The euro found support earlier as concerns over the debt crisis in the euro zone eased after European Commission President Jose Manuel Barroso said it would soon present options for the introduction of euro area bonds.

However, he warned that the measure alone would not be enough to end the region’s debt crisis and reiterated that Germany remained strongly opposed to the move.

The greenback also edged up against the pound, with GBP/USD sliding 0.08% to hit 1.5765.

Earlier in the day, official data showed that the number of people claiming unemployment benefits in the U.K. rose less-than-expected in August, but the pound remained under pressure after the report showed that the number of people without work on the wider ILO measure showed its biggest rise in two years in the three months to July.

But the greenback was down against the yen and the Swiss franc, with USD/JPY shedding 0.33% to hit 76.68 and USD/CHF slipping 0.23% to hit 0.8782.

In Switzerland, government data showed that producer and import prices dropped by the most in 33 months in August, on the back of the stronger franc and lower oil prices.

Elsewhere, the greenback was higher against its Canadian, Australian and New Zealand cousins, with USD/CAD climbing 0.59% to hit 0.9915, AUD/USD tumbling 0.92% to hit 1.0217 and NZD/USD sliding 0.12% to hit 0.8216.

The Aussie’s losses came after revised data showed that consumer price inflation rose by 0.6% in the second quarter. At the end of July, the Australian Statistics Bureau said CPI rose by 0.9% in the three months to June.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.13% to hit 77.68.

Also Wednesday, the Commerce Department said U.S. retail sales were flat in August, disappointing expectations for a 0.2% gain.

A separate report from the Department of Labor showed U.S. producer prices were unchanged last month, as lower oil prices offset rising food costs.

Forex - Dollar edges higher ahead of Greece debt talks
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Add Chart to Comment
EUR/USD
 
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 1000
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 1000
 
 
 
Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.