Investing.com - The U.S. dollar was broadly lower against the other major currencies in thin trade on Tuesday as U.S. markets remained closed for a second day because of Hurricane Sandy.
During U.S. morning trade, the dollar was lower against the euro, with EUR/USD up 0.58% to 1.2979.
The euro rose to session highs after Italy saw borrowing costs fall to the lowest level since May 2011 at an auction of five- and ten-year government bonds.
Elsewhere, official data showed that the Spanish economy contracted by 0.3% in the third quarter, compared to expectations for a 0.4% contraction, extending the recession into a fourth quarter.
The data came one day after Spanish Prime Minister Mariano Rajoy said he would request a bailout "when I think it is in the interests of Spain".
The dollar was also lower against the yen, with USD/JPY down 0.27% to 79.58 after fresh easing steps by the Bank of Japan disappointed market expectations for more aggressive measures.
The BoJ increased the size of its asset purchase program by JPY11 trillion at Tuesday’s policy meeting, amid concerns over the deteriorating economic outlook and growing political pressure to step up measures to combat deflation.
The greenback was weaker against the pound and the Swiss franc, with GBP/USD rising 0.31% to 1.6082 and USD/CHF dropping 0.65% to 0.9305.
The greenback was broadly lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD sliding 0.15% to 0.9995, AUD/USD rising 0.41% to 1.0373 and NZD/USD up 0.21% to 0.8208.
In Canada, official data showed that producer price inflation rose by 0.5% in September, ahead of expectations for a 0.2% increase. The cost of raw materials for manufacturing was up 1.3%, outstripping expectations for a 1.1% increase.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.52% to 79.91.
In the U.S., a report by Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 2.0% in August from a year earlier, slightly better than expectations for a 1.9% increase.
During U.S. morning trade, the dollar was lower against the euro, with EUR/USD up 0.58% to 1.2979.
The euro rose to session highs after Italy saw borrowing costs fall to the lowest level since May 2011 at an auction of five- and ten-year government bonds.
Elsewhere, official data showed that the Spanish economy contracted by 0.3% in the third quarter, compared to expectations for a 0.4% contraction, extending the recession into a fourth quarter.
The data came one day after Spanish Prime Minister Mariano Rajoy said he would request a bailout "when I think it is in the interests of Spain".
The dollar was also lower against the yen, with USD/JPY down 0.27% to 79.58 after fresh easing steps by the Bank of Japan disappointed market expectations for more aggressive measures.
The BoJ increased the size of its asset purchase program by JPY11 trillion at Tuesday’s policy meeting, amid concerns over the deteriorating economic outlook and growing political pressure to step up measures to combat deflation.
The greenback was weaker against the pound and the Swiss franc, with GBP/USD rising 0.31% to 1.6082 and USD/CHF dropping 0.65% to 0.9305.
The greenback was broadly lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD sliding 0.15% to 0.9995, AUD/USD rising 0.41% to 1.0373 and NZD/USD up 0.21% to 0.8208.
In Canada, official data showed that producer price inflation rose by 0.5% in September, ahead of expectations for a 0.2% increase. The cost of raw materials for manufacturing was up 1.3%, outstripping expectations for a 1.1% increase.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.52% to 79.91.
In the U.S., a report by Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 2.0% in August from a year earlier, slightly better than expectations for a 1.9% increase.