Investing.com – The U.S. dollar was down against the other major currencies on Monday, as risk appetite sharpened after new regulations imposed by the Basel Committee on Banking Supervision were less strict than expected.
During European morning trade, the greenback was down against the euro, with EUR/USD advancing 1.08% to hit 1.2814.
Earlier in the day, the European Commission revised up its growth forecast for 2010, saying its economy was likely to grow almost twice as fast as previously expected.
The greenback was also down against the pound and yen, with GBP/USD gaining 0.32% to hit 1.5407 and USD/JPY shedding 0.17% to hit 84.04.
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".
Elsewhere, the U.S. dollar was down against the Swiss franc, with USD/CHF declining 0.60% to hit 1.0140.
Earlier in the day, official data showed that Switzerland's producer price index rose less-than-expected in August.
Meanwhile, the greenback was down against its Australian, New Zealand and Canadian counterparts, as AUD/USD gained 0.69% to hit 0.9330, NZD/USD advanced 0.47% to hit 0.7322, while USD/CAD fell 0.69% to hit 1.0298.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.65%.
Later in the day, the U.S. was to release official data on its federal budget balance.
During European morning trade, the greenback was down against the euro, with EUR/USD advancing 1.08% to hit 1.2814.
Earlier in the day, the European Commission revised up its growth forecast for 2010, saying its economy was likely to grow almost twice as fast as previously expected.
The greenback was also down against the pound and yen, with GBP/USD gaining 0.32% to hit 1.5407 and USD/JPY shedding 0.17% to hit 84.04.
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".
Elsewhere, the U.S. dollar was down against the Swiss franc, with USD/CHF declining 0.60% to hit 1.0140.
Earlier in the day, official data showed that Switzerland's producer price index rose less-than-expected in August.
Meanwhile, the greenback was down against its Australian, New Zealand and Canadian counterparts, as AUD/USD gained 0.69% to hit 0.9330, NZD/USD advanced 0.47% to hit 0.7322, while USD/CAD fell 0.69% to hit 1.0298.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.65%.
Later in the day, the U.S. was to release official data on its federal budget balance.