Forexpros – The U.S. dollar advanced against its major counterparts on Tuesday as euro zone debt fears triggered safe haven buying. As well as the Federal Reserve vowing to keep interest rates low through mid 2013.
During late session U.S. trade, the greenback was up against the euro, with EUR/USD dropping 1.12% to hit 1.30.42.
The single currency was depressed by fears that the latest bailout efforts are not sufficient to stem the debt crisis.
The greenback was also up against the pound, with GBP/USD falling 0.0091% to hit 1.5494.
Reports that German Chancellor Merkel refuses to increase the latest bailout fund named the European Stability Mechanism from the current 500 billion euros triggered the selling in the euro.
Meanwhile, the greenback was lower against the yen but higher against the Swiss franc with USD/JPY down by 0.01% to hit 77.92 and USD/CHF climbing 0.0082% to hit 0.9456.
The greenback was up against its Canadian, Australian and New Zealand counterparts with USD/CAD climbing 0.0054% to hit 1.0327, AUD/USD fell 0.0051% to hit 1.0022 and NZD/USD dropping 0.62% to 0.7582.
Investors are awaiting the U.S. import prices and crude oil stockpile numbers on Wednesday.
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