The US dollar was
broadly lower against the other major currencies as investor confidence was
boosted by hopes that Greece’s plan to buy back debt will succeed. EURUSD found
support after Greece launched a scheme to buy back its debt from private
investors, as part of an agreement to unlock a new bailout package worth EUR44
billion. European Union finance ministers were holding talks in Brussels on
Tuesday, to discuss banking supervision in the euro zone.
The GBP remained supported after data showed that construction sector activity in the U.K. unexpectedly declined to a three month low in November.
The yen strengthened after Monday’s weak U.S. manufacturing data and ongoing concerns over the U.S. fiscal cliff enhanced the safe haven appeal of the currency.
Click Here! The Australian dollar turned higher earlier after the Reserve Bank of Australia cut its benchmark interest rate to 3% from 3.25% in a widely anticipated decision. RBA Governor Glenn Stevens said the Australian dollar remains “higher than might have been expected” given lower export prices and a weaker global outlook.
The GBP remained supported after data showed that construction sector activity in the U.K. unexpectedly declined to a three month low in November.
The yen strengthened after Monday’s weak U.S. manufacturing data and ongoing concerns over the U.S. fiscal cliff enhanced the safe haven appeal of the currency.
Click Here! The Australian dollar turned higher earlier after the Reserve Bank of Australia cut its benchmark interest rate to 3% from 3.25% in a widely anticipated decision. RBA Governor Glenn Stevens said the Australian dollar remains “higher than might have been expected” given lower export prices and a weaker global outlook.
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