Investing.com - The U.S. dollar was broadly higher against its major counterparts on Friday, as global growth concerns supported demand for the safe haven greenback, while investors eyed the release of U.S. data later in the day as well as ongoing euro zone meetings.
During European late morning trade, the dollar was higher against the euro, with EUR/USD falling 0.19% to 1.2541.
Sentiment on the single currency remained fragile amid ongoing euro zone talks, after German Chancellor Angela Merkel said that she and French President Francois Hollande will maintain pressure on Greece to overhaul its economy at meetings with Prime Minister Antonis Samaras in Berlin later Friday and on Saturday.
Separately, the Financial Times Deutschland reported that a working group led by Germany's deputy finance minister is studying the possible economic impact of a Greek exit from the euro zone.
The news came a day after data showed that manufacturing activity in the euro zone rose more-than-expected in August, but remained in contraction territory for the 12th consecutive month, while service sector activity slumped to a two-month low.
Meanwhile, market participants eyed the release of U.S. economic data later in the day, as reports on Thursday painted a mixed picture of the country's economic recovery, prompting investors to temper expectations for a third round of quantitative easing by the Federal Reserve to boost growth.
The greenback was steady against the pound, with GBP/USD easing 0.09% to 1.5849.
Sterling was little changed after revised data showed that the U.K. economy contracted less than initialy estimated in the second quarter, although the country remained in contraction territory for the third consecutive quarter.
The U.K. Office for National Statistics said that the country's gross domestic product fell by 0.5% in the second quarter, revised from the previously estimated 0.7% decline.
Elsewhere, the greenback was fractionally higher against the yen and the Swiss france, with USD/JPY edging up 0.07% to hit 78.53, and USD/CHF adding 0.19% to trade at 0.9576.
Earlier in the day, Bank of Japan Governor Masaaki Shirakawa warned of a possible delay in China's economic pickup and a strong yen that could add pain to Japan's economic recovery, signaling the bank's readiness to offer monetary stimulus if risks heighten further.
The comments came after a report on Thursday showing that manufacturing activity in China slumped to a nine-month low in August added to concerns over a global economic slowdown.
In addition, the greenback was mixed against its Canadian, Australian and New Zealand counterparts, with USD/CAD dipping 0.07% to 0.9932, AUD/USD dropping 0.37% to 1.0402 and NZD/USD slipping 0.27% to hit 0.8106.
Reserve Bank of Australia Governor Glenn Stevens signalled earlier that interest rates are likely to stay on hold unless there is a drastic change to the central bank's optimistic outlook for the economy.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.08%, to trade at 81.45.
Later in the day, the U.S. was to release government data on durable goods orders.
During European late morning trade, the dollar was higher against the euro, with EUR/USD falling 0.19% to 1.2541.
Sentiment on the single currency remained fragile amid ongoing euro zone talks, after German Chancellor Angela Merkel said that she and French President Francois Hollande will maintain pressure on Greece to overhaul its economy at meetings with Prime Minister Antonis Samaras in Berlin later Friday and on Saturday.
Separately, the Financial Times Deutschland reported that a working group led by Germany's deputy finance minister is studying the possible economic impact of a Greek exit from the euro zone.
The news came a day after data showed that manufacturing activity in the euro zone rose more-than-expected in August, but remained in contraction territory for the 12th consecutive month, while service sector activity slumped to a two-month low.
Meanwhile, market participants eyed the release of U.S. economic data later in the day, as reports on Thursday painted a mixed picture of the country's economic recovery, prompting investors to temper expectations for a third round of quantitative easing by the Federal Reserve to boost growth.
The greenback was steady against the pound, with GBP/USD easing 0.09% to 1.5849.
Sterling was little changed after revised data showed that the U.K. economy contracted less than initialy estimated in the second quarter, although the country remained in contraction territory for the third consecutive quarter.
The U.K. Office for National Statistics said that the country's gross domestic product fell by 0.5% in the second quarter, revised from the previously estimated 0.7% decline.
Elsewhere, the greenback was fractionally higher against the yen and the Swiss france, with USD/JPY edging up 0.07% to hit 78.53, and USD/CHF adding 0.19% to trade at 0.9576.
Earlier in the day, Bank of Japan Governor Masaaki Shirakawa warned of a possible delay in China's economic pickup and a strong yen that could add pain to Japan's economic recovery, signaling the bank's readiness to offer monetary stimulus if risks heighten further.
The comments came after a report on Thursday showing that manufacturing activity in China slumped to a nine-month low in August added to concerns over a global economic slowdown.
In addition, the greenback was mixed against its Canadian, Australian and New Zealand counterparts, with USD/CAD dipping 0.07% to 0.9932, AUD/USD dropping 0.37% to 1.0402 and NZD/USD slipping 0.27% to hit 0.8106.
Reserve Bank of Australia Governor Glenn Stevens signalled earlier that interest rates are likely to stay on hold unless there is a drastic change to the central bank's optimistic outlook for the economy.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.08%, to trade at 81.45.
Later in the day, the U.S. was to release government data on durable goods orders.