Forexpros – The U.S. dollar continued to march higher against its major counterparts Friday, as worries about the effectiveness of the European summit weigh on the euro.
In late Asian trade, the greenback was up against the euro with EUR/USD shedding 0.17% to hit 1.3315.
The single currency continued to be pressured by concerns that the solutions arising from the European Union summit will not be effective in stemming the debt crisis.
The greenback was also up against the pound, with GBP/USD falling 0.16% to hit 1.5603.
Earlier, European Central Bank President, Mario Draghi praised a financial accord from European officials. This accord designed a fiscal compact to prevent a future debt crisis, ramped up the start of a 500 billion euro crisis fund, and discussed tighter budget rules.
Meanwhile, the greenback was lower against the yen and higher against the Swiss franc with USD/JPY slipping 0.52% to hit 77.60 and USD/CHF climbing 0.18% to 0.9278.
Government data indicated slower than expected growth in Japan and China.
The greenback was up against its Canadian, Australian, and New Zealand counterparts, with USD/CAD climbing 0.28% to hit 1.0259, AUD/USD giving back 0.98% to hit 1.0066 and NZD/USD falling 0.92% to hit 0.7657.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.29%.
Investors anxiously await positive words coming from the European Union summit on Friday.
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