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Forex - Dollar up vs. rivals as currency coordination agreement fails

Published 10/11/2010, 09:31 AM
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Investing.com – The U.S. dollar was up against all of the other major currencies on Monday after world financial leaders attending the International Monetary Fund Conference over the weekend failed to come to a new currency coordination agreement.

During European afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.45% to hit 1.3931.

The greenback was also up against the pound, with GBP/USD slipping 0.16% to hit 1.5935.

Elsewhere, the dollar was up against the Swiss franc and the yen, with USD/CHF gaining 0.07% to hit 0.9632 and USD/JPY up 0.01% to hit 81.92.

In addition, the greenback was also up against its Canadian, Australian and New Zealand counterparts, with USD/CAD gaining 0.14% to hit 1.0123, AUD/USD shedding 0.30% to hit 0.9847 and NZD/USD falling 0.49% to hit 0.7520.

Earlier in the day, official data showed that the number of Australian new home loan approvals rose less-than-expected in August.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.04%.

At the conclusion of the meetings, the IMF’s governing body pledged to "work towards a more balanced pattern of global growth, recognising the responsibilities of deficit and surplus countries,” although it stopped short of any move to limit currency movements.

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