Forex - Dollar broadly lower as euro gains on Greece loan hopes

Investing.com – The U.S. dollar was broadly lower against its major counterparts on Tuesday, as concerns over a possible restructuring of Greek sovereign debt eased, boosting the single currency.

During European morning trade, the greenback was sharply lower against the euro, with EUR/USD rallying 0.93% to hit 1.4414.

Earlier in the day, the Wall Street Journal reported that Germany was considering dropping its push for a rescheduling of Greek bonds to facilitate a new package of aid loans to the country.

The greenback was also lower against the pound, with GBP/USD climbing 0.27% to hit 1.6519.

Meanwhile, the greenback was up against the yen but down against the Swiss franc with USD/JPY surging 0.78% to hit 81.55 and USD/CHF shedding 0.27% to hit 0.8496.

The yen weakened broadly after Moody’s Investor Services said earlier that it was placing Japan's Aa2 sovereign debt rating under review, pending a possible downgrade.

Meanwhile, the greenback was lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD tumbling 0.69% to hit 0.9701, AUD/USD easing up 0.14% to hit 1.0705 and NZD/USD jumping 1.02% to hit 0.8246.

A report earlier, showing that business confidence in New Zealand surged to a one-year high in April bolstered expectations that the central bank will raise interest rates this year.

Elsewhere, separate reports showed that Australia’s current account deficit widened in the first quarter and home building approvals fell last month.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.60%.

Later Tuesday, the U.S. was to publish industry data on house price inflation and consumer confidence, as well as an index of manufacturing activity in the Chicago area.