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Markets

Dollar slips vs euro as Greek relief fades

Published February 22, 2012 Updated February 22, 2012 11:05pm

 NEW YORK: The dollar slipped slightly against the euro Wednesday as traders appeared to have little enthusiasm for Greece's second bailout deal with the European Union.

The euro was trading at $1.3252 around 2200 GMT, up from $1.3238 at the same time Tuesday.

The dollar surged against the Japanese currency, to 80.29 yen from 79.69 yen Tuesday.

Earlier in the day the greenback hit 80.40 yen, its highest level since July 11 on positive economic signs in the United States.

"The US dollar is mostly firmer, while equity markets are lower, following yesterday's deal to provide further financial assistance for Greece," said Nick Bennenbroek at Wells Fargo Bank.

"The agreement to provide further assistance has been met more with relief rather than any strong enthusiasm on the part of investors, while the process to implement the deal remains ongoing."

The dollar firmed against the British pound, which was at $1.5667 compared with $1.5780 late Tuesday.

But it eased back against the Swiss franc, to 0.9101 from 0.9120.

Copyright AFP (Agence France-Presse), 2012

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