The dollar was broadly stronger against other major currencies on Monday, supported by its safe haven appeal as global stocks tanked on renewed fears of a Greek default. Analysts say that Greece’s days in the euro zone may be numbered. Its neighbors are growing more vocal about the inability of Athens to produce the meaningful
The dollar steadied versus the euro on Friday, as a meeting of European finance ministers raised new questions about whether Greece will default on its sovereign debt obligations. Days after a teleconference between German and French leaders raised hopes that the powerhouses will backstop Greece, headlines from the EcoFin meeting in Poland signaled frustration with
The dollar fell for a third day versus the euro on Wednesday, as leaders from Germany and France insisted that Greece will stay in the monetary union by meeting promises to slash government spending. Stocks were sharply higher as traders took in headlines from a conference call involving Prime Minister George Papandreou, French PM Nicolas
The dollar failed to build on its recent gains versus the euro on Tuesday, as talk of a Chinese rescue eased fears that Europe’s sovereign debt crisis will spiral out of hand. Reports suggested that China is in talks to buy bonds after Italian borrowing costs skyrocketed to unsustainable levels. Italian austerity plans must implemented
The dollar held most of this month’s strong gains versus its European counterparts on Monday, as markets rejected Greece’s latest attempt to delay a full-blown sovereign debt crisis. Greece on Sunday announced a new set of austerity measures to meet deficit reduction targets. However, critics are calling it another attempt to delay an inevitable default.
