Investing.com - The U.S. dollar remained higher against its major counterparts on Monday, as the risk of a default by Greece hit demand for riskier assets after the deadline for Greece to accept the terms of a second bailout passed without a resolution on the issue.
During European afternoon trade, the dollar was higher against the euro, with EUR/USD dropping 0.89% to hit 1.3040.
Earlier Monday, Greek officials indicated that a meeting between Greek Prime Minister Lucas Papademos and coalition party leaders was likely to take place later in the day, amid hopes that an agreement on a EUR130 billion bailout package would be finalized.
Meanwhile, a spokesman for the European Commission said that Greece has gone beyond the deadline for finalizing talks on a second bailout and warned that Athens urgently needs to take a decision.
The euro found some support earlier following official data showing that German factory orders rose more-than-expected in December, on the back of increased demand from outside the euro zone, easing concerns over a slowdown in the region’s largest economy.
The greenback was also higher against the pound, with GBP/USD declining 0.4% to hit 1.575.
In the U.K., a report by mortgage lender Halifax showed that house prices rose by 0.6% in January, after dropping by a revised 1% the previous month.
The report said that continuing low levels of interest rates have helped support housing demand.
The greenback was almost unchanged against the yen but posted steep gains against the Swiss franc, with USD/JPY inching up 0.06% to hit 76.65 and USD/CHF rising 0.77% to hit 0.925.
In addition, the greenback was broadly higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD advancing 0.45% to hit 0.9978, AUD/USD falling 0.67% to hit 1.0698 and NZD/USD losing 0.75% to hit 0.8296.
A report earlier showed that Australian retail sales fell for the first time in six months in December, ticking down 0.1%, confounding expectations for a 0.2% increase.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, climbed 0.56% to hit 79.5.
Also Monday, the International Monetary Fund said that its forecast for economic growth in China of 8.2% this year could be cut almost in half if the debt crisis in the euro zone worsens, a scenario the IMF says would warrant “significant” fiscal stimulus from the nation’s government.
During European afternoon trade, the dollar was higher against the euro, with EUR/USD dropping 0.89% to hit 1.3040.
Earlier Monday, Greek officials indicated that a meeting between Greek Prime Minister Lucas Papademos and coalition party leaders was likely to take place later in the day, amid hopes that an agreement on a EUR130 billion bailout package would be finalized.
Meanwhile, a spokesman for the European Commission said that Greece has gone beyond the deadline for finalizing talks on a second bailout and warned that Athens urgently needs to take a decision.
The euro found some support earlier following official data showing that German factory orders rose more-than-expected in December, on the back of increased demand from outside the euro zone, easing concerns over a slowdown in the region’s largest economy.
The greenback was also higher against the pound, with GBP/USD declining 0.4% to hit 1.575.
In the U.K., a report by mortgage lender Halifax showed that house prices rose by 0.6% in January, after dropping by a revised 1% the previous month.
The report said that continuing low levels of interest rates have helped support housing demand.
The greenback was almost unchanged against the yen but posted steep gains against the Swiss franc, with USD/JPY inching up 0.06% to hit 76.65 and USD/CHF rising 0.77% to hit 0.925.
In addition, the greenback was broadly higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD advancing 0.45% to hit 0.9978, AUD/USD falling 0.67% to hit 1.0698 and NZD/USD losing 0.75% to hit 0.8296.
A report earlier showed that Australian retail sales fell for the first time in six months in December, ticking down 0.1%, confounding expectations for a 0.2% increase.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, climbed 0.56% to hit 79.5.
Also Monday, the International Monetary Fund said that its forecast for economic growth in China of 8.2% this year could be cut almost in half if the debt crisis in the euro zone worsens, a scenario the IMF says would warrant “significant” fiscal stimulus from the nation’s government.