NEW YORK (CNNMoney.com) -- The dollar fell versus the euro Monday after the European Union announced additional steps to aid Greece, but the decline was tempered ahead of corporate financial results.
What prices are doing: The dollar was down 0.7% versus the euro to $1.3592. The greenback edged up slightly against the U.K. pound to $1.5369 and against the Japanese yen to ¥93.25.
What's moving the market: The euro rallied after EU finance chiefs pledged Sunday to commit up to $40 billion in loans to Greece if it were to request a bailout.
The move eased some concerns that the fiscal crisis in Greece could spread and hurt economic activity across Europe, boosting demand for risky assets.
But the euro backed off earlier highs as stock markets in London, Paris and Frankfurt turned mixed.
Traders were also digested quarterly results from aluminum producer Alcoa (AA, Fortune 500), which reported a slim operating profit thanks to higher metal prices but missed on revenue. The Dow component was the first company to report first-quarter results after the bell Monday.
Overall, first-quarter earnings are expected to have risen nearly 37% over the year-earlier period, according to Thomson Reuters. Revenue is forecast to have risen 10%
What analysts are saying: "Near-term prospects look supportive for risky assets, hinting at losses for the safety-linked U.S. dollar and Japanese yen against their major counterparts," Ilya Spivak, currency strategist at DailyFx, wrote in a note to clients.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.20%||4.27%|
|15 yr fixed||3.27%||3.21%|
|30 yr refi||4.18%||4.24%|
|15 yr refi||3.26%||3.20%|
Today's featured rates:
Some Wal-Mart employees falsely told customers Coke was more expensive in New York because of a sugar tax. More
Scotland's independence vote is too close to call but those who want to keep Britain united won this year's campaign funding race by some distance. More
The FBI's new facial recognition system lets local police easily identify you. It will one day spot you from your iris, voice and the way you walk. More
Y Combinator president Sam Altman is teaching a startup class at Stanford with Silicon Valley heavy hitters as guest lecturers. Bonus: All the videos will be available for free online. More
Occupy Wall Street offshoot Strike Debt says it has abolished nearly $4 million in private student loan debt for students who attended Everest College, part of Corinthian Colleges. More