Forexpros –
Forexpros – The U.S. dollar was lower against its major counterparts in Asian trade Tuesday, on hopes for progress on Europe’s ongoing debt crisis and a tepid showing by shares on Wall Street.
In mid-day Asian trade, the greenback was higher against the euro, with EUR/USD slipping 0.18% to hit 1.4072.
Earlier Monday, the U.K. Financial Times reported that China was in talks with Italian officials regarding an injection of funds, including the purchase of bonds and investments in strategic companies.
Last week, a delegation from the China Investment Corp., one of the world’s largest sovereign wealth funds, visited Italy for a meeting with Italian government officials, including Finance Minister Giulio Tremonti.
Seperately, European Central Bank President Jean-Cluade Trichet said Monday, it remains his “working assumption” that Greece would take the steps needed to win approval from the ECB, the International Monetary Fund and the European Commission to receive its next batch of funding.
Trichet’s comments followed a Wall Street Journal report that International Monetary Fund officials said Greece would receive its next round of bailout funds later this month
Wall Street shares pieced together a late session rally to rebound from session lows, as the Dow Jones Industrial Average gained 0.63%, the Nasdaq Composite Index rose 1.1%, and the S&P 500 edged up 0.7%.
Meanwhile, the greenback was lower against the British pound, with GBP/USD up by 0.02% to hit 1.5866.
The dollar was lower against the Japanese yen but down against the Swiss franc with USD/JPY dropping 0.24% to hit 77.03, and USD/CHF up fractionally by 0.02% to hit 0.8804.
The greenback was mixed against its Canadian, Australian and New Zealand counterparts with USD/CAD down 0.08% to hit 0.9918, AUD/USD lower by 0.02% to hit 1.0343, and NZD/USD falling 0.13% to hit 0.8220.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.22% at 77.68.
The U.S. Treasury Department was set to release monthly Federal Budget Balance figures on Wednesday.
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