Investing.com - The dollar was broadly stronger against the other major currencies on Wednesday as ongoing concerns over a possible U.S. military intervention against the Syrian government continued to boost safe haven demand for the greenback.
During European afternoon trade, the dollar was higher against the yen, with USD/JPY climbing 0.43% to 97.45.
Safe haven demand was boosted by growing indications that the U.S. and its allies were preparing to launch a military strikes against Syria following the alleged use of chemical weapons.
British Prime Minister David Cameron drafted a United Nations resolution condemning the use of chemical weapons in Syria and "authorizing necessary measures to protect civilians" on Wednesday. The resolution was to be put forward at a meeting of the UN Security Council later in the day.
The dollar was also higher against the euro, with EUR/USD down 0.35% to 1.3345.
The dollar rose to two-week highs against the pound, with GBP/USD losing 0.57% to trade at 1.5458.
Sterling came under pressure ahead of a speech by Bank of England Governor Mark Carney later in the session.
Carney was expected to reiterate the bank’s pledge to keep interest rates on hold at current record low levels until the U.K. unemployment rate falls below 7%, something the bank sees as unlikely to happen for another three years.
Recent improved U.K. economic data fuelled expectations that the bank could raise rates before then.
The dollar pushed higher against the Swiss franc, with USD/CHF climbing 0.33% to 0.9206.
Elsewhere, the greenback was stronger against its Australian, New Zealand and Canadian counterparts, with AUD/USD falling 0.75% to 0.8916, NZD/USD down 0.62% to 0.7749 and USD/CAD edging up 0.08% to 1.0481.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.34% to 81.46.
The U.S. was to release data on pending home sales later Wednesday.
During European afternoon trade, the dollar was higher against the yen, with USD/JPY climbing 0.43% to 97.45.
Safe haven demand was boosted by growing indications that the U.S. and its allies were preparing to launch a military strikes against Syria following the alleged use of chemical weapons.
British Prime Minister David Cameron drafted a United Nations resolution condemning the use of chemical weapons in Syria and "authorizing necessary measures to protect civilians" on Wednesday. The resolution was to be put forward at a meeting of the UN Security Council later in the day.
The dollar was also higher against the euro, with EUR/USD down 0.35% to 1.3345.
The dollar rose to two-week highs against the pound, with GBP/USD losing 0.57% to trade at 1.5458.
Sterling came under pressure ahead of a speech by Bank of England Governor Mark Carney later in the session.
Carney was expected to reiterate the bank’s pledge to keep interest rates on hold at current record low levels until the U.K. unemployment rate falls below 7%, something the bank sees as unlikely to happen for another three years.
Recent improved U.K. economic data fuelled expectations that the bank could raise rates before then.
The dollar pushed higher against the Swiss franc, with USD/CHF climbing 0.33% to 0.9206.
Elsewhere, the greenback was stronger against its Australian, New Zealand and Canadian counterparts, with AUD/USD falling 0.75% to 0.8916, NZD/USD down 0.62% to 0.7749 and USD/CAD edging up 0.08% to 1.0481.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.34% to 81.46.
The U.S. was to release data on pending home sales later Wednesday.