Investing.com – The U.S. dollar was down against the other major currencies on Monday, as risk sentiment was boosted amid renewed hopes over global economic growth.
During European afternoon trade, the greenback was down against the euro, with EUR/USD advancing 1.65% to hit 1.2885.
Earlier in the day, the European Commission revised up its growth forecast for 2010, saying it now expected the region’s economy to expand by 1.7%, up from a previous estimate of 0.9%.
The greenback was also down against the pound, with GBP/USD gaining 0.65% to hit 1.5457.
Elsewhere, the U.S. dollar was down against the yen and Swiss franc, with USD/JPY shedding 0.72% to hit 83.57 and USD/CHF tumbling 1.13% to hit 1.0086.
Earlier Monday, Ichiro Ozawa, who is challenging Prime Minister Naoto Kan for leadership of Japan’s ruling Democratic Party, said that if he was elected he would “take all measures including market intervention to protect Japan's economy".
Meanwhile, the greenback was down against its Australian, New Zealand and Canadian counterparts, as AUD/USD gained 0.99% to hit 0.9358, NZD/USD advanced 0.74% to hit 0.7340, while USD/CAD fell 0.89% to hit 1.0277.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 1.14%.
Later in the day, the U.S. was to release official data on its federal budget balance.
During European afternoon trade, the greenback was down against the euro, with EUR/USD advancing 1.65% to hit 1.2885.
Earlier in the day, the European Commission revised up its growth forecast for 2010, saying it now expected the region’s economy to expand by 1.7%, up from a previous estimate of 0.9%.
The greenback was also down against the pound, with GBP/USD gaining 0.65% to hit 1.5457.
Elsewhere, the U.S. dollar was down against the yen and Swiss franc, with USD/JPY shedding 0.72% to hit 83.57 and USD/CHF tumbling 1.13% to hit 1.0086.
Earlier Monday, Ichiro Ozawa, who is challenging Prime Minister Naoto Kan for leadership of Japan’s ruling Democratic Party, said that if he was elected he would “take all measures including market intervention to protect Japan's economy".
Meanwhile, the greenback was down against its Australian, New Zealand and Canadian counterparts, as AUD/USD gained 0.99% to hit 0.9358, NZD/USD advanced 0.74% to hit 0.7340, while USD/CAD fell 0.89% to hit 1.0277.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 1.14%.
Later in the day, the U.S. was to release official data on its federal budget balance.