Investing.com - The U.S. dollar was higher against most of its major counterparts on Tuesday, as the lack of progress in talks designed to reach a deal on the restructuring of Greek sovereign debt weighed on investor confidence.
During European afternoon trade, the dollar was higher against the euro, with EUR/USD shedding 0.39% to hit 1.2962.
On Monday, European Union finance ministers rejected demands by Greece’s creditors that new bonds to be issued in exchange for their existing Greek holdings will carry an interest rate of 4%, prolonging negotiations on the issue.
The single currency found support earlier after preliminary data showed that manufacturing activity in the single currency bloc rose at the fastest pace since August this month.
However, a separate report showed that industrial new orders in the euro zone declined in November, albeit at a slower pace than expected.
Elsewhere, Spain auctioned EUR2.51 billion of short-term government debt earlier, in an auction which met with robust investor demand at sharply lower yields.
The greenback was lower against the pound, with GBP/USD adding 0.14% to hit 1.5590.
The pound remained under pressure amid ongoing speculation that the Bank of England may implement fresh easing measures to shore up the economy as the effects of harsh government austerity cuts and the debt crisis in Europe continue to create a drag on growth.
Earlier Tuesday, official data showed that U.K. public sector net borrowing rose less-than-expected in December, but total outstanding debt rose above GBP1 trillion for the first time on record.
The greenback was higher against the yen and the Swiss franc, with USD/JPY climbing 0.89% to hit 77.72 and USD/CHF advancing 0.34% to hit 0.9308.
The Bank of Japan left interest rates unchanged earlier and revised down its outlook for growth in this fiscal year and the next, citing the ongoing financial crisis in Europe as a key downside risk to the global economy.
Elsewhere, the greenback was higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD gaining 0.46% to hit 1.0134, AUD/USD dropping 0.83% to hit 1.0435 and NZD/USD declining 0.50% to hit 0.8059.
In Canada, official data showed that core retail sales rose more-than-expected in November, ticking up 0.3% after a 0.6% rise the previous month. Analysts had expected core retail sales to rise 0.2% in November.
The report also showed that retail sales rose 0.3% in November, in line with expectations.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, rose 0.55% to hit 80.31.
EU finance ministers were to hold discussions in Brussels throughout the day.
During European afternoon trade, the dollar was higher against the euro, with EUR/USD shedding 0.39% to hit 1.2962.
On Monday, European Union finance ministers rejected demands by Greece’s creditors that new bonds to be issued in exchange for their existing Greek holdings will carry an interest rate of 4%, prolonging negotiations on the issue.
The single currency found support earlier after preliminary data showed that manufacturing activity in the single currency bloc rose at the fastest pace since August this month.
However, a separate report showed that industrial new orders in the euro zone declined in November, albeit at a slower pace than expected.
Elsewhere, Spain auctioned EUR2.51 billion of short-term government debt earlier, in an auction which met with robust investor demand at sharply lower yields.
The greenback was lower against the pound, with GBP/USD adding 0.14% to hit 1.5590.
The pound remained under pressure amid ongoing speculation that the Bank of England may implement fresh easing measures to shore up the economy as the effects of harsh government austerity cuts and the debt crisis in Europe continue to create a drag on growth.
Earlier Tuesday, official data showed that U.K. public sector net borrowing rose less-than-expected in December, but total outstanding debt rose above GBP1 trillion for the first time on record.
The greenback was higher against the yen and the Swiss franc, with USD/JPY climbing 0.89% to hit 77.72 and USD/CHF advancing 0.34% to hit 0.9308.
The Bank of Japan left interest rates unchanged earlier and revised down its outlook for growth in this fiscal year and the next, citing the ongoing financial crisis in Europe as a key downside risk to the global economy.
Elsewhere, the greenback was higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD gaining 0.46% to hit 1.0134, AUD/USD dropping 0.83% to hit 1.0435 and NZD/USD declining 0.50% to hit 0.8059.
In Canada, official data showed that core retail sales rose more-than-expected in November, ticking up 0.3% after a 0.6% rise the previous month. Analysts had expected core retail sales to rise 0.2% in November.
The report also showed that retail sales rose 0.3% in November, in line with expectations.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, rose 0.55% to hit 80.31.
EU finance ministers were to hold discussions in Brussels throughout the day.