Investing.com – The U.S. dollar climbed against most other major currencies on Tuesday, after Federal Reserve Chairman Ben Bernanke warned that failure to cut the federal budget deficit may put the U.S. economic recovery at risk.
The dollar was up against the euro, with EUR/USD shedding 0.59% to hit 1.3303 after Germany's junior coalition party said Berlin was not certain to back a bailout of Greece, sparking fears that the debt-laden state would not secure aid in time to avert a default.
The greenback also surged versus sterling, with GBP/USD slumping 0.77% to hit 1.5338 after opinion polls signaled the upcoming U.K. election may produce a coalition government that lacks the political strength to cut Britain's budget deficit.
Meanwhile, the dollar climbed against the Swiss franc, with USD/CHF gaining 0.5% to hit 1.0783. The greenback was also up versus its Australian, Canadian and New Zealand counterparts: AUD/USD dropped 0.22% to hit 0.9249, USD/CAD rose 0.51% to hit 1.0062 and NZD/USD slid 0.51% to reach 0.7196.
But the greenback was down against the yen, with USD/JPY dropping 0.49% to reach 93.5.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.35%.
Also Tuesday, a vice president at Goldman Sachs, who helped create and sell a mortgage investment that figures in a Securities and Exchange Commission fraud suit, was set to deny in testimony that he failed to disclose crucial information to investors, The New York Times reported.
The dollar was up against the euro, with EUR/USD shedding 0.59% to hit 1.3303 after Germany's junior coalition party said Berlin was not certain to back a bailout of Greece, sparking fears that the debt-laden state would not secure aid in time to avert a default.
The greenback also surged versus sterling, with GBP/USD slumping 0.77% to hit 1.5338 after opinion polls signaled the upcoming U.K. election may produce a coalition government that lacks the political strength to cut Britain's budget deficit.
Meanwhile, the dollar climbed against the Swiss franc, with USD/CHF gaining 0.5% to hit 1.0783. The greenback was also up versus its Australian, Canadian and New Zealand counterparts: AUD/USD dropped 0.22% to hit 0.9249, USD/CAD rose 0.51% to hit 1.0062 and NZD/USD slid 0.51% to reach 0.7196.
But the greenback was down against the yen, with USD/JPY dropping 0.49% to reach 93.5.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.35%.
Also Tuesday, a vice president at Goldman Sachs, who helped create and sell a mortgage investment that figures in a Securities and Exchange Commission fraud suit, was set to deny in testimony that he failed to disclose crucial information to investors, The New York Times reported.