Forexpros – The U.S. dollar was modestly higher against most of its major counterparts on Monday, as markets awaited developments from Italy, as the political future of Prime Minister Silvio Berlusconi hung in the balance.
During European afternoon trade, the dollar was up against the euro, with EUR/USD shedding 0.29% to hit 1.3749.
The euro found support as Italian borrowing costs eased off earlier euro-era highs, on speculation that Prime Minister Berlusconi was about to step down amid mounting opposition from within his own party, ahead of a parliamentary vote on public finances on Tuesday.
But the single currency remained under pressure after official data showed that German industrial output dropped more-than-expected in September, while retail sales in the euro zone fell more-than-expected in September.
But the greenback edged lower against the pound, with GBP/USD easing up 0.10% to hit 1.6049.
Earlier in the day, industry data showed that U.K. house prices rose more-than-expected last month, but fell slightly over the three months to October.
Elsewhere, the greenback was lower against the yen but posted strong gains against the Swiss franc, with USD/JPY slipping 0.22% to hit 78.08, and USD/CHF jumping 1.51% to hit 0.8978.
Government data released earlier showed that Swiss consumer price inflation declined unexpectedly in October, falling 0.1%, confounding expectations for a 0.2% gain.
The data came after Swiss National Bank Chairman Phillip Hildebrand said Sunday that the central bank is ready to take further measures to weaken the Swiss franc if necessary.
Meanwhile, the greenback was lower against its Canadian and New Zealand counterparts, but was higher against its Australian cousin, with USD/CAD slipping 0.15% to hit 1.0172, NZD/USD adding 0.18% to hit 0.7952 and AUD/USD shedding 0.35% to hit 1.0335.
Earlier Monday, a report showed that the number of Australian jobs adverts in newspapers and on the internet fell in October, the sixth decline in seven months.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.22% to hit 77.29.
Later in the day, euro zone finance ministers were to meet to discuss the latest developments in Greece as well as how to implement summit decision reached by euro zone nations late last month.
Forexpros
