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||3.60%||3.68%|
|15 yr fixed||2.73%||2.79%|
|30 yr refi||3.64%||3.72%|
|15 yr refi||2.77%||2.82%|
Today's featured rates:
The diet company's stock has shed nearly half its value this year. Investors are skeptical that Weight Watchers can turn things around -- despite the stamp of approval from board member and spokesperson Oprah Winfrey. More
The jobs market is near full employment with 14 million jobs added since early 2010. Gas prices are cheap. Home prices are rising. The stock market is near record highs. So why does everyone think the economy stinks? More
IBM puts its quantum computer online to let researchers, student and general public test computer that is exponentially faster than traditional digital computers. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More