Investing.com - The pound fell against the dollar as the greenback surged against most major currencies on fears that fresh hurdles have gone up along Europe's road to recovery.
GBP/USD hit 1.5549 in Asian trading on Monday, down 0.18% and up from a session low of 1.5529 and off from a high of 1.5565.
The pair was likely to find support 1.5451, Friday's low, and resistance at 1.5578, Friday's high.
Greece has been negotiating debt restructuring terms with its private creditors but a deal has yet to be reached, which fueled demand for dollars in Monday trading as a safe haven play.
Furthermore in Australia, producer price inflation rose less than expected in the fourth quarter of 2011, climbing to a seasonally adjusted 0.3%, from 0.6% in the preceding quarter, according to the Australian Bureau of Statistics.
Markets had been expecting a gain of 0.4%.
With many Asian countries closed for the Lunar New Year holiday, the dollar became the currency of choice early in Monday's session.
Meanwhile, the pound was up against the euro and down against the yen, with EUR/GBP falling 0.13% and trading at 0.8291and GBP/JPY falling 0.12% to 119.80.
Later Monday, the Conference Board will release its Australian leading index, which will shed further light on the health of the economy.
The U.S. Federal Open Market Committee meets Wednesday and even if the monetary policy body doesn't change interest rates, talk ahead of the meeting regarding possible accommodative policies such as a third round of quantitative easing could weaken the dollar and send other currencies rising.
European consumer confidence numbers come out on Monday, while the Bank of Japan will tentatively hold a monetary policy meeting as well.
Later Monday, Canada is to publish its index of leading economic indicators, a good weather vane for the economy over the coming months.
GBP/USD hit 1.5549 in Asian trading on Monday, down 0.18% and up from a session low of 1.5529 and off from a high of 1.5565.
The pair was likely to find support 1.5451, Friday's low, and resistance at 1.5578, Friday's high.
Greece has been negotiating debt restructuring terms with its private creditors but a deal has yet to be reached, which fueled demand for dollars in Monday trading as a safe haven play.
Furthermore in Australia, producer price inflation rose less than expected in the fourth quarter of 2011, climbing to a seasonally adjusted 0.3%, from 0.6% in the preceding quarter, according to the Australian Bureau of Statistics.
Markets had been expecting a gain of 0.4%.
With many Asian countries closed for the Lunar New Year holiday, the dollar became the currency of choice early in Monday's session.
Meanwhile, the pound was up against the euro and down against the yen, with EUR/GBP falling 0.13% and trading at 0.8291and GBP/JPY falling 0.12% to 119.80.
Later Monday, the Conference Board will release its Australian leading index, which will shed further light on the health of the economy.
The U.S. Federal Open Market Committee meets Wednesday and even if the monetary policy body doesn't change interest rates, talk ahead of the meeting regarding possible accommodative policies such as a third round of quantitative easing could weaken the dollar and send other currencies rising.
European consumer confidence numbers come out on Monday, while the Bank of Japan will tentatively hold a monetary policy meeting as well.
Later Monday, Canada is to publish its index of leading economic indicators, a good weather vane for the economy over the coming months.