Investing.com – The U.S. dollar was broadly lower against its major rivals on Tuesday, as the pound rallied on the back of expectations for a near-term interest rate hike, while the euro slipped amid fresh concerns over euro zone sovereign debt.
During early U.S. trade, the greenback was slightly higher against the euro, with EUR/USD easing down 0.11% to hit 1.4209.
Earlier in the day, Portugal’s main opposition party indicated that it would not support the minority government’s call for an additional round of austerity measures, bringing the country closer to a snap election and adding to fears that the country will be forced to seek an international bailout.
But the greenback was down against the pound, with GBP/USD climbing 0.51% to hit 1.6391.
Official data released earlier showed that consumer prices in the U.K. rose more-than-expected in February, to hit a 28-month high.
The greenback was also fractionally lower against the yen, with USD/JPY dipping 0.04% to hit 80.98.
Japan's Finance Minister Yoshihiko Noda said earlier that the Group of Seven leading industrialized nations would continue to cooperate after a joint intervention to curb the yen’s record gains last week brought some stability back to the market.
The greenback was also slightly lower against the Swiss franc, with USD/CHF slipping 0.07% to hit 0.9037.
Earlier in the day, official data showed that Switzerland’s trade surplus widened more-than-expected in February, as exports remained robust despite the strong franc.
In addition, the greenback was down against its Canadian, Australian and New Zealand cousins, with USD/CAD dipping 0.04% to hit 0.9772, AUD/USD advancing 0.47% to hit 1.0111 and NZD/USD surging 0.72% to hit 0.7409.
Official data released earlier Tuesday showed that Canadian retail sales were unexpectedly flat in February.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.02%.
Earlier Tuesday, official U.S. data showed that manufacturing activity in Richmond fell more-than-expected in March.
During early U.S. trade, the greenback was slightly higher against the euro, with EUR/USD easing down 0.11% to hit 1.4209.
Earlier in the day, Portugal’s main opposition party indicated that it would not support the minority government’s call for an additional round of austerity measures, bringing the country closer to a snap election and adding to fears that the country will be forced to seek an international bailout.
But the greenback was down against the pound, with GBP/USD climbing 0.51% to hit 1.6391.
Official data released earlier showed that consumer prices in the U.K. rose more-than-expected in February, to hit a 28-month high.
The greenback was also fractionally lower against the yen, with USD/JPY dipping 0.04% to hit 80.98.
Japan's Finance Minister Yoshihiko Noda said earlier that the Group of Seven leading industrialized nations would continue to cooperate after a joint intervention to curb the yen’s record gains last week brought some stability back to the market.
The greenback was also slightly lower against the Swiss franc, with USD/CHF slipping 0.07% to hit 0.9037.
Earlier in the day, official data showed that Switzerland’s trade surplus widened more-than-expected in February, as exports remained robust despite the strong franc.
In addition, the greenback was down against its Canadian, Australian and New Zealand cousins, with USD/CAD dipping 0.04% to hit 0.9772, AUD/USD advancing 0.47% to hit 1.0111 and NZD/USD surging 0.72% to hit 0.7409.
Official data released earlier Tuesday showed that Canadian retail sales were unexpectedly flat in February.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.02%.
Earlier Tuesday, official U.S. data showed that manufacturing activity in Richmond fell more-than-expected in March.