Dollar extends gains

By Blake Ellis, staff reporter


NEW YORK (CNNMoney.com) -- The dollar rose against major currencies Friday as investors continued to worry about finding a solution for Greece's debt problems.

What prices are doing: The dollar climbed 0.5% versus the euro to $1.3539 and soared 1.5% against the British pound to $1.5017. Against the Japanese yen, the dollar edged up 0.1% to ¥90.49.

chart_ws_currency_usd_eur.03(3).png

On Thursday, the dollar rose against the euro and the pound following reports on employment and inflation from the government and amid renewed concern over Greece's debt.

Earlier in the week, the dollar came under pressure against major currencies after the Federal Reserve held rates steady near zero percent, and the greenback slipped versus the yen when the Bank of Japan followed the Fed's decision with its announcement Wednesday that it will also leave interest rates unchanged.

What's moving the market: Investors were on edge following news Thursday that Greece may need to turn to the International Monetary Fund for aid if the European Union doesn't agree on a plan at next week's EU leaders' summit.

"The news flow on Greece continues to highlight the deadlock in Europe and increases the chances that the IMF will be forced to come in not only to shore up Greece but more importantly to respond to an impotent economic governance in the euro zone," said analysts at BNP Paribas in a research note. "Next week's European Summit is unlikely to provide constructive results."

With no major economic news released Friday, the dollar was also lifted by stocks, which snapped a winning streak as investors backed off from the recent run up.

Weaker equities tend to boost the dollar, as investors turn to the U.S. currency as a safe haven. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 32,627.97 -234.33 -0.71%
Nasdaq 13,215.24 99.07 0.76%
S&P 500 3,913.10 -2.36 -0.06%
Treasuries 1.73 0.00 0.12%
Data as of 6:29am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET

Sections

Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.