Home / Metal News / Copper / Dollar Falls on Greek Debt Concern
Dollar Falls on Greek Debt Concern
Mar 6,2012 09:29CST
data analysis
Source:SMM
The U.S. dollar fell against most major currencies in late New York trading on Monday as investors grew concerned about the Greek debt crisis

NEW YORK, Mar.6 -- The U.S. dollar fell against most major currencies in late New York trading on Monday as investors grew concerned about the Greek debt crisis.

Greek Finance Minister Evangelos Venizelos has urged private creditors to take the bond swap deal on which a second bailout of the country depends. The deal nailed by euro zone finance ministers involves investors taking a nominal 53.5 percent loss on their Greek bonds in order to prevent Greece from a chaotic default.

Also adding to investors' concerns, the euro zone composite purchasing managers index fell to 49.3 in February from 50.4 in January. A reading of less than 50 indicates a contraction in private-sector business activity, suggesting a decline of manufacturing activities in euro zone.

The euro, however, managed to rise against the dollar on Monday.

Meanwhile, the U.S. service sector showed strength as the institute for Supply Management said its services index rose to 57. 3 in February from 56.8 in January. The dollar index dipped 0.09 percent to 79.33 on Monday.

In late Monday trading, the dollar bought 81.46 Japanese yen, compared with 81.81 from late Friday. The euro rose to 1.3224 dollars from 1.3204.

The British pound also rose to 1.5867 dollars from 1.5832. The dollar fell from 0.9136 Swiss francs to 0.9118, but rose to 0.9938 Canadian dollars from 0.9881.

 

dollar;

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news