“The euro weakened against most of its major peers as uncertainty over aid to Greece reduced the appeal of assets denominated in the single European currency.
The euro fell from a three-week high against the dollar, erasing an earlier advance, after two people with knowledge of the talks said Greece’s next aid package may include incentives for bondholders to roll over maturing debt without triggering a default. The Dollar Index declined before reports that will probably show U.S. companies hired fewer workers and manufacturing cooled. The Swiss franc strengthened as data showed retail sales rose at the fastest rate for two years.
“Until there’s clarity on where the debate is going, you will get this volatility in the euro,” said Paul Robson, a senior foreign-exchange strategist at Royal Bank of Scotland Group Plc in London. “Clearly there’s still lots to discuss and it’s just taken the edge off the euro, which had rallied pretty hard over the last few days.”
The euro was little changed at $1.4404 as of 7:34 a.m. in New York, after advancing as much as 0.4 percent to $1.4448. It declined 0.2 percent to fetch 117.16 yen. The dollar slipped 0.2 percent against the Japanese currency to 81.38 yen.
IntercontinentalExchange Inc.’s Dollar Index, which measures the greenback against the currencies of six trading partners, was 0.1 percent lower at 74.54 after declining to 74.39, the least since May 6.”Comments »