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Forex - Dollar broadly higher in quiet holiday-thinned trade

Published 05/30/2011, 08:16 AM
Updated 05/30/2011, 08:16 AM

Investing.com – The U.S. dollar was broadly higher against its major counterparts on holiday thinned trade on Monday, as uncertainty over how Greece's debt crisis will be resolved weighed on investor sentiment.

During European afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.30% to hit 1.4276.

Concerns over a Greek sovereign debt default lingered as European Union and International Monetary Fund officials prepared a report on Greece's attempts to meet fiscal targets under its bailout plan.

The greenback was also higher against the pound, with GBP/USD shedding 0.28% to hit 1.6459.

In addition, the greenback was up against the yen and the Swiss franc with USD/JPY easing up 0.04% to hit 80.83 and USD/CHF rising 0.24% to hit 0.8512.

Meanwhile, the greenback was lower against its Canadian counterpart but higher against its Australian and New Zealand cousins, with USD/CAD dipping 0.03% to hit 0.9758, AUD/USD slipping 0.15% to hit 1.0687 and NZD/USD skidding 0.18% to hit 0.8176.

Earlier in the day, official data showed that New Zealand’s trade surplus widened twice as much as economists expected to a record in April.

Meanwhile, Australia’s Treasurer said that a government report on gross domestic product due out later in the week would show that natural disasters cut more than 1.0% from growth in the first quarter.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, eased up 0.09%.

Liquidity was relatively thin as U.K. markets remained closed for the Spring Bank Holiday, while U.S. markets were to stay closed for Memorial Day.


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