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||3.84%||3.85%|
|15 yr fixed||2.96%||2.96%|
|30 yr refi||3.95%||3.96%|
|15 yr refi||3.06%||3.06%|
Today's featured rates:
Americans are transforming how they eat -- paying more attention to the origins of their food and how it's made. And Kimbal Musk is at the forefront of a movement that is accelerating the rate of change. More
The Labor Department releases its August jobs report on Friday, and it will have big implications for the Federal Reserve. More
The Samsung Gear S2 is a smartwatch that will make both gadget lovers and watch lovers happy. More
The BauBax travel jacket, with 15 built-in features, needed $20,000 on Kickstarter, but got $9 million. More
Pimco's famous fund once managed by star manager Bill Gross has less than $100 billion in management for the first time since 2007. More