Investing.com - The dollar rose against most major currencies on Wednesday as fears grew the global economy continues to cool after the International Monetary Fund trimmed growth forecasts for the world economy.
In Asian trading on Wednesday, EUR/USD was down 0.11% at 1.2872.
The International Monetary Fund reported earlier that the global economy will expand 3.3% this year and 3.6% in 2013.
Both forecasts represent downward revisions from July's calls for 3.5% growth this year and 3.9% in 2013.
The downward revisions sparked demand for the safe-haven dollar amid a global risk-off trading session.
The euro and other higher-yielding currencies fell after investors sold and jumped to the sidelines ahead of the release of French and Italian industrial production data.
Uncertainty elsewhere in Europe also kept investors in the safety of the greenback.
Protestors clashed with police in Athens to mark German Chancellor Angela Merkel's visit to Greece, as the German leader urged Greeks to stick with austerity measures, adding the country will be better off in the long run.
Uncertainty over whether Spain will seek a bailout made the liquid dollar an attractive safe haven even more.
The dollar also saw gains against the euro and elsewhere as investors sold stocks and braced for U.S. third-quarter earnings, which hit the wire beginning this week.
The greenback, meanwhile, was up against the pound, with GBP/USD trading down 0.03% at 1.5998.
The dollar was flat against the yen, with USD/JPY trading unchanged at 78.25 and up against the Swiss franc, with USD/CHF trading up 0.09% at 0.9411.
The dollar was largely up against its cousins in Canada, Australia and New Zealand, with USD/CAD trading up 0.09% at 0.9792, AUD/USD unchanged at 1.0207 and NZD/USD trading down 0.29% at 0.8156.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.08% at 80.16.
In the U.S. later Wednesday, the Federal Reserve is to publish its Beige Book, which outlines current economic conditions.
In Asian trading on Wednesday, EUR/USD was down 0.11% at 1.2872.
The International Monetary Fund reported earlier that the global economy will expand 3.3% this year and 3.6% in 2013.
Both forecasts represent downward revisions from July's calls for 3.5% growth this year and 3.9% in 2013.
The downward revisions sparked demand for the safe-haven dollar amid a global risk-off trading session.
The euro and other higher-yielding currencies fell after investors sold and jumped to the sidelines ahead of the release of French and Italian industrial production data.
Uncertainty elsewhere in Europe also kept investors in the safety of the greenback.
Protestors clashed with police in Athens to mark German Chancellor Angela Merkel's visit to Greece, as the German leader urged Greeks to stick with austerity measures, adding the country will be better off in the long run.
Uncertainty over whether Spain will seek a bailout made the liquid dollar an attractive safe haven even more.
The dollar also saw gains against the euro and elsewhere as investors sold stocks and braced for U.S. third-quarter earnings, which hit the wire beginning this week.
The greenback, meanwhile, was up against the pound, with GBP/USD trading down 0.03% at 1.5998.
The dollar was flat against the yen, with USD/JPY trading unchanged at 78.25 and up against the Swiss franc, with USD/CHF trading up 0.09% at 0.9411.
The dollar was largely up against its cousins in Canada, Australia and New Zealand, with USD/CAD trading up 0.09% at 0.9792, AUD/USD unchanged at 1.0207 and NZD/USD trading down 0.29% at 0.8156.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.08% at 80.16.
In the U.S. later Wednesday, the Federal Reserve is to publish its Beige Book, which outlines current economic conditions.