LOS ANGELES (MarketWatch) — The U.S. dollar extended recent gains Monday, with the euro down sharply on reports that fresh aid for Greece may take longer than expected.
In Asian trading hours Monday, the dollar index DXY +0.43% , which measures the U.S. unit against a basket of six other currencies, climbed to 78.635 from 78.378 in late North American trade Friday.
The move extended the dollar’s 2.3% gain for the previous week, and came as Asian stocks traded sharply lower. The dollar often gains when other markets perform poorly, as some investors see it as a relative safe haven.
The euro EURUSD -0.68% fell to $1.3410 from $1.3493 late Friday, adding to last week’s 2.2% drop for the European currency.
The euro’s losses followed reported comments Sunday by German Deputy Finance Minister Joerg Asmussen, who said a new tranche of aid for Greek will need to wait until European and International Monetary Fund officials are satisfied with Athens’ fiscal progress. See report on German comments about Greek aid.
Among other currency pairs, the British pound GBPUSD -0.18% slipped to $1.5453 from $1.5441 Friday, and the Australian dollar AUDUSD -0.92% dropped to 97.16 U.S. cents from 97.55 cents.
SEE THE RESULT (LIVE TRADE) ON
EURUSD PREDICTION BY PUSH FORMULA:
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