NEW YORK (CNNMoney.com) -- The dollar was mostly higher Thursday as fears about Greece's debt crisis resurfaced, prompting investors to cut their exposure to the higher-yield currencies.
What prices are doing: The dollar rose 0.1% against the euro to $1.3390 and climbed 0.9% against the British pound to $1.5267. The dollar fell 1.2% against the yen, which also tends to strengthen on risk aversion, to ¥89.08.
 |
| Click chart to view current rates. |
The dollar was softer against the euro, pound, and yen Wednesday after Federal Reserve chairman Ben Bernanke warned lawmakers on the House Financial Services Committee that the the weak labor market remains a concern, and the central bank will continue to hold its benchmark rate near zero.
What's moving the market: Investors flocked to the dollar for its safe-haven appeal after credit agencies threatened to downgrade Greece's sovereign debt next month if the country doesn't work to reduce its deficit.
Jitters were also fueled by a strike that began Wednesday led by Greek workers protesting against government measures aimed at slashing the national debt.
Renewed debt concerns weakened risk appetite, sparking a selloff on Wall Street and dragging on commodities. Stocks tumbled earlier in the session and crude oil prices sank nearly 4%, but both markets pared some losses by the time they closed.
The flight to safety was also driven by a weak jobs report, which showed that the number of Americans filing for jobless claims surged to almost 500,000, rising more than 12% over the last two weeks. The jump surprised analysts, who were expecting claims to drop.
Bernanke returned to Capitol Hill for day two of his semi-annual monetary policy testimony, this time before the Senate Banking Committee, and repeated the previous day's message.
What analysts are saying: The threat of Greece's default has left investors feeling uncertain about global economic recovery, said John Kicklighter, currency strategist at DailyFX.com.
The wariness has triggered traders to pull back on risky assets such as stocks and high-yield currencies, and instead dig into safer assets like the dollar. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.80% | |
| 15 yr fixed | 3.09% | 3.11% | |
| 5/1 ARM | 2.65% | 2.69% | |
| 30 yr refi | 3.77% | 3.86% | |
| 15 yr refi | 3.09% | 3.21% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,454.83 | -74.92 | -0.60% |
| Nasdaq | 2,837.53 | -1.85 | -0.07% |
| S&P 500 | 1,317.82 | -2.86 | -0.22% |
| Treasuries | 1.74 | -0.01 | -0.80% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.15 | 0.01 | 0.14% |
| Sprint Nextel Corp | 2.62 | 0.09 | 3.56% |
| Cisco Systems Inc | 16.33 | -0.06 | -0.37% |
| Chesapeake Energy Co... | 15.81 | 0.23 | 1.48% |
| Ford Motor Co | 10.60 | 0.01 | 0.09% |
|
The Senate hearing will focus JPMorgan's recent $2 billion trading loss, which Dimon announced earlier this month. More |
The offer for mail handlers is part of the Postal Service's plan to cut 150,000 jobs by 2015. More |
In the whirlwind of its IPO fallout, there has been a sort of glee in watching the company stumble. What's driving the Facebook-schadenfreude and what can the social network do about it? More |
One in six children in the United States is obese. These small businesses have found creative -- and lucrative -- ways to fight the childhood obesity epidemic. More |
In Harper County, Kansas, oil companies are offering farmers up to $1,250 an acre for the mineral rights that allow them to drill for oil on their property. More |
.
