Investing.com – The U.S. dollar was down against most of its major counterparts on Wednesday, after Greece's parliament approved a five-year austerity plan designed to avert the euro zone’s first sovereign debt default.
During early U.S. trade, the greenback was slightly lower against the euro, with EUR/USD easing up 0.05% to hit 1.4376.
Greece’s parliament voted 155 to 138, with five members abstaining, in favor of ratifying unpopular austerity measures, as violent protests continued outside parliament buildings.
Had the austerity plan been rejected, it could have resulted in the euro zone’s first sovereign debt default, as Greece needs to cover EUR6.6 billion of bonds maturing in August.
The greenback was also lower against the pound, with GBP/USD rising 0.14% to hit 1.6021.
The pound remained under pressure amid speculation that the Bank of England could resume its quantitative easing program as some policymakers believed the outlook for growth remains weak.
Elsewhere, the greenback was lower against the yen but higher against the Swiss franc, with USD/JPY shedding 0.36% to hit 80.82 and USD/CHF climbing 0.37% to hit 0.8350.
In Switzerland, a report released earlier showed that the country’s KOF economic barometer fell in line with expectations this month, adding to concerns that the franc’s record gains are weighing on economic growth.
Meanwhile, the greenback was sharply lower against its Canadian, Australian and New Zealand cousins, with USD/CAD tumbling 1.04% to hit 0.9708, AUD/USD surging 0.88% to hit 1.0632 and NZD/USD jumping 0.91% to hit 0.8196.
Earlier in the day, official data showed that Canadian core consumer price inflation rose more-than-expected in May, fanning speculation over a near-term interest rate hike by the country’s central bank.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.28%.
Also Wednesday, a report showed that pending home sales in the U.S. rose significantly more-than-expected in May, with all regions experiencing gains from a year ago.
The National Association of Realtors said its pending home sales index jumped by 8.2% in May, blowing past expectations for a 2.4% gain.
During early U.S. trade, the greenback was slightly lower against the euro, with EUR/USD easing up 0.05% to hit 1.4376.
Greece’s parliament voted 155 to 138, with five members abstaining, in favor of ratifying unpopular austerity measures, as violent protests continued outside parliament buildings.
Had the austerity plan been rejected, it could have resulted in the euro zone’s first sovereign debt default, as Greece needs to cover EUR6.6 billion of bonds maturing in August.
The greenback was also lower against the pound, with GBP/USD rising 0.14% to hit 1.6021.
The pound remained under pressure amid speculation that the Bank of England could resume its quantitative easing program as some policymakers believed the outlook for growth remains weak.
Elsewhere, the greenback was lower against the yen but higher against the Swiss franc, with USD/JPY shedding 0.36% to hit 80.82 and USD/CHF climbing 0.37% to hit 0.8350.
In Switzerland, a report released earlier showed that the country’s KOF economic barometer fell in line with expectations this month, adding to concerns that the franc’s record gains are weighing on economic growth.
Meanwhile, the greenback was sharply lower against its Canadian, Australian and New Zealand cousins, with USD/CAD tumbling 1.04% to hit 0.9708, AUD/USD surging 0.88% to hit 1.0632 and NZD/USD jumping 0.91% to hit 0.8196.
Earlier in the day, official data showed that Canadian core consumer price inflation rose more-than-expected in May, fanning speculation over a near-term interest rate hike by the country’s central bank.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.28%.
Also Wednesday, a report showed that pending home sales in the U.S. rose significantly more-than-expected in May, with all regions experiencing gains from a year ago.
The National Association of Realtors said its pending home sales index jumped by 8.2% in May, blowing past expectations for a 2.4% gain.