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Forex - Dollar up vs. most rivals amid fears over Greece aid delay

Published 06/20/2011, 08:04 AM
Updated 06/20/2011, 08:04 AM

Investing.com – The U.S. dollar was higher against most of its major counterparts on Monday, as concerns over the Greek debt crisis continued after euro zone finance ministers put off a final decision on emergency loans to Athens.

During European afternoon trade, the greenback was up against the euro, with EUR/USD dropping 0.63% to hit 1.4220.

On Sunday, finance ministers from the 17-nation single currency bloc said that a new bailout package for Greece would be decided by early July and would be dependent on the Greek parliament passing a controversial new austerity package.

The greenback was also up against the pound, with GBP/USD slipping 0.13% to hit 1.6172.

Earlier Monday, U.K. property website Rightmove said that prices for houses in England and Wales were likely to rise overall in 2011.

Meanwhile, the greenback was up against the yen but down against the Swiss franc with USD/JPY climbing 0.26% to hit 80.25 and USD/CHF sliding 0.20% to hit 0.8464.

Official data showed earlier that Japan posted its second-largest trade deficit on record in May, as exports continued to decline after the March 11 earthquake and tsunami.

Elsewhere, the greenback was up against its Canadian, Australian and New Zealand counterparts, with USD/CAD climbing 0.48% to hit 0.9841, AUD/USD tumbling 0.99% to hit 1.0518 and NZD/USD falling 0.88% to hit 0.8056.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.44%.

With no major economic events scheduled for later in the day, markets turned their focus to the U.S. Federal Reserve’s policy setting meeting later in the week, where it was expected to reaffirm its pledge to hold interest rates near zero for an extended period.

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