Investing.com - The dollar was up against the world's major currencies on Thursday after Greece ran into a fresh set of hurdles blocking its way to the bailout funding it needs to avoid a messy March default, sparking demand for the safety of the greenback.
Greece's parliament recently voted in favor of accepting austerity measures in exchange for access to a EUR130 billion bailout fund, although European Commission officials have expressed concern that not all in Greece's ruling coalition may be onboard with pushing austerity through.
In early Asian trading on Thursday, EUR/USD fell 0.30% to 1.3028.
European Commission members cancelled a meeting with Greek officials after failing to receive assurance that coalition political parties were committed to pushing through austerity measures designed to streamline the country's public finances.
However, support for the unit came when Chinese central bank officials said they would support the euro and expressed faith that the continent would work through its crisis.
Also in Europe, Germany’s gross domestic product contracted less than expected, shrinking 0.2% in the fourth quarter of 2011, while France’s economy expanded 0.2%, also better than expected, while Italy’s shrank by 0.7%, in line with expectations.
In the U.S., the Fed’s policy meeting minutes revealed that monetary policymakers weren't in agreement over whether the economy required additional monetary easing.
Meanwhile in Japan, steps taken to weaken the yen sent the dollar climbing, although the yen regained its strength later in the session.
Meanwhile, the dollar was up against the pound, with Cable falling 0.17% to hit 1.5667, mainly on Bank of England Governor Mervyn King's remarks that U.K. economic growth will be choppy in 2012, adding the eurozone crisis will threaten U.K. economic recovery all year.
The greenback was down 0.02% against the yen, with USD/JPY trading at 78.42, and up against the Swiss franc, with USD/CHF gaining 0.36% and trading at 0.9270.
The greenback was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.23% at 1.0023, AUD/USD down 0.12% at 1.0682 and NZD/USD down 0.73% at 0.8270.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.30% at 79.98.
Later Thursday, the ECB is to release its monthly bulletin, which provides investors with a detailed analysis of current and future economic conditions.
In Canada, official data is to be released on foreign security purchases as well as on manufacturing sales, a leading indicator of economic health.
The U.S. is to publish government data on building permits and housing starts, which will shed light into the health of the housing sector as well as on construction demand.
The U.S. will also release reports on producer price inflation and unemployment claims.
Furthermore, the U.S. will unveil manufacturing data in the Philadelphia area, while Federal Reserve Chairman Ben Bernanke is due to speak as well.
Greece's parliament recently voted in favor of accepting austerity measures in exchange for access to a EUR130 billion bailout fund, although European Commission officials have expressed concern that not all in Greece's ruling coalition may be onboard with pushing austerity through.
In early Asian trading on Thursday, EUR/USD fell 0.30% to 1.3028.
European Commission members cancelled a meeting with Greek officials after failing to receive assurance that coalition political parties were committed to pushing through austerity measures designed to streamline the country's public finances.
However, support for the unit came when Chinese central bank officials said they would support the euro and expressed faith that the continent would work through its crisis.
Also in Europe, Germany’s gross domestic product contracted less than expected, shrinking 0.2% in the fourth quarter of 2011, while France’s economy expanded 0.2%, also better than expected, while Italy’s shrank by 0.7%, in line with expectations.
In the U.S., the Fed’s policy meeting minutes revealed that monetary policymakers weren't in agreement over whether the economy required additional monetary easing.
Meanwhile in Japan, steps taken to weaken the yen sent the dollar climbing, although the yen regained its strength later in the session.
Meanwhile, the dollar was up against the pound, with Cable falling 0.17% to hit 1.5667, mainly on Bank of England Governor Mervyn King's remarks that U.K. economic growth will be choppy in 2012, adding the eurozone crisis will threaten U.K. economic recovery all year.
The greenback was down 0.02% against the yen, with USD/JPY trading at 78.42, and up against the Swiss franc, with USD/CHF gaining 0.36% and trading at 0.9270.
The greenback was up against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.23% at 1.0023, AUD/USD down 0.12% at 1.0682 and NZD/USD down 0.73% at 0.8270.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.30% at 79.98.
Later Thursday, the ECB is to release its monthly bulletin, which provides investors with a detailed analysis of current and future economic conditions.
In Canada, official data is to be released on foreign security purchases as well as on manufacturing sales, a leading indicator of economic health.
The U.S. is to publish government data on building permits and housing starts, which will shed light into the health of the housing sector as well as on construction demand.
The U.S. will also release reports on producer price inflation and unemployment claims.
Furthermore, the U.S. will unveil manufacturing data in the Philadelphia area, while Federal Reserve Chairman Ben Bernanke is due to speak as well.