Forex Pros – The U.S. dollar was broadly higher against its major counterparts on Monday, as risk aversion remained elevated as markets waited for a resolution to Greece’s sovereign debt crisis.
During European morning trade, the greenback was up against the euro, with EUR/USD dropping 0.75% to hit 1.4205.
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 down 0.34% to hit 1.6140.
Earlier Monday, U.K. property website Rightmove said that that house prices would finish 2011 with an annual gain of 2.0%, in contrast to its December forecast for a 2.5% fall.
Meanwhile, the greenback was up against the yen but down against the Swiss franc with USD/JPY easing up 0.16% to hit 80.17 and USD/CHF slipping 0.16% to hit 0.8468.
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 0.49% to hit 0.9841, AUD/USD tumbling 1.11% to hit 1.0505 and NZD/USD falling 0.93% to hit 0.8052.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.57%.
Later in the week, the U.S. Federal Reserve was to hold its monthly policy setting meeting where it was expected to reaffirm its pledge to hold interest rates near zero for an extended period.
ForexPros.com
