Investing.com - The dollar slid against major currencies Tuesday as the euro came into demand amid short-covering and on renewed commitments from the continent's leadership to confront and defeat its debt crisis.
The greenback on Monday was down against the euro, with EUR/USD rising 0.05% to hit 1.2772.
The euro took a beating in recent months although investors took long positions in the currency on Tuesday to cover previous short positions, which sent the unit rising.
Furthermore, French President Nicolas Sarkozy and German Chancellor Angela Merkel remained united in their mission to prevent debt-ridden countries like Greece from defaulting and abandoning the currency, which could arguably wreak havoc on global financial systems.
Meanwhile, the dollar was also weaker against the pound, with Cable rising 0.04% to hit 1.5464.
The greenback was down 0.01% against the yen, with USD/JPY was trading at 76.84, and down against the Swiss franc, with USD/CHF dipping 0.06% at 0.9490.
The greenback was down against its cousins in Canada, Australia and New Zealand, with USD/CAD falling 0.16% at 1.0219, AUD/USD up 0.37% to 1.0276 and NZD/USD up 0.62% at 0.7920.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.04% at 81.28.
In the U.K. later Tuesday, the British Retail Consortium is to release retail sales data.
The U.K. will also release industry data on house price balance, a key gauge of housing inflation.
The eurozone will unveil figures on French industrial production, a leading indicator of economic health as well.
In the U.S., FOMC members John Williams and Sandra Pianalto are expected to speak.
The greenback on Monday was down against the euro, with EUR/USD rising 0.05% to hit 1.2772.
The euro took a beating in recent months although investors took long positions in the currency on Tuesday to cover previous short positions, which sent the unit rising.
Furthermore, French President Nicolas Sarkozy and German Chancellor Angela Merkel remained united in their mission to prevent debt-ridden countries like Greece from defaulting and abandoning the currency, which could arguably wreak havoc on global financial systems.
Meanwhile, the dollar was also weaker against the pound, with Cable rising 0.04% to hit 1.5464.
The greenback was down 0.01% against the yen, with USD/JPY was trading at 76.84, and down against the Swiss franc, with USD/CHF dipping 0.06% at 0.9490.
The greenback was down against its cousins in Canada, Australia and New Zealand, with USD/CAD falling 0.16% at 1.0219, AUD/USD up 0.37% to 1.0276 and NZD/USD up 0.62% at 0.7920.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.04% at 81.28.
In the U.K. later Tuesday, the British Retail Consortium is to release retail sales data.
The U.K. will also release industry data on house price balance, a key gauge of housing inflation.
The eurozone will unveil figures on French industrial production, a leading indicator of economic health as well.
In the U.S., FOMC members John Williams and Sandra Pianalto are expected to speak.