Investing.com – The U.S. dollar was down against most other major currencies on Monday as fears over Europe's debt crisis eased, despite a warning by China that efforts to slash euro zone budget deficits endangered the global recovery.
The greenback was down against the euro, with EUR/USD rising 0.24% to hit 1.2302 as traders shrugged off a downgrade of Spain's credit rating on Friday.
Earlier Monday, China's Premier Wen Jiabao issued the warning over Europe a day after France said it would struggle to keep its top credit rating.
Meanwhile, the dollar slid versus sterling and the Swiss franc, with GBP/USD gaining 0.2% to hit 1.4486 and USD/CHF sliding 0.22% to hit 1.1565.
Sterling's ascent came as Britain's coalition government sought to reassure markets that the resignation of David Laws as Britain's Treasury chief secretary would not hamper efforts to slash the massive U.K. budget deficit.
The greenback also fell against its Canadian and New Zealand counterparts on Monday: USD/CAD fell 0.41% to hit 1.05 and NZD/USD rose 0.49% to reach 0.6824.
But the greenback was up against the yen and Aussie, with USD/JPY climbing 0.42% to reach 91.45 and AUD/USD shedding 0.07% to hit 0.8467.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.27%.
Also Monday, the U.S. and EU central bank chiefs spoke of the importance of emerging economies in securing the global economic recovery.
The greenback was down against the euro, with EUR/USD rising 0.24% to hit 1.2302 as traders shrugged off a downgrade of Spain's credit rating on Friday.
Earlier Monday, China's Premier Wen Jiabao issued the warning over Europe a day after France said it would struggle to keep its top credit rating.
Meanwhile, the dollar slid versus sterling and the Swiss franc, with GBP/USD gaining 0.2% to hit 1.4486 and USD/CHF sliding 0.22% to hit 1.1565.
Sterling's ascent came as Britain's coalition government sought to reassure markets that the resignation of David Laws as Britain's Treasury chief secretary would not hamper efforts to slash the massive U.K. budget deficit.
The greenback also fell against its Canadian and New Zealand counterparts on Monday: USD/CAD fell 0.41% to hit 1.05 and NZD/USD rose 0.49% to reach 0.6824.
But the greenback was up against the yen and Aussie, with USD/JPY climbing 0.42% to reach 91.45 and AUD/USD shedding 0.07% to hit 0.8467.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.27%.
Also Monday, the U.S. and EU central bank chiefs spoke of the importance of emerging economies in securing the global economic recovery.