Dollar weakens as Greece fears ease

By Ben Rooney, staff reporter

NEW YORK ( -- The dollar weakened Thursday as investors regained some appetite for risk amid easing concerns about Greece and strong corporate results.

The dollar was down 0.2% versus the euro to $1.32425 and fell 0.75% against the U.K. pound to $1.53223. Against the Japanese yen, the dollar gained 0.06% to trade at ¥94.09.

The euro plunged to a 12-month low Wednesday after Standard & Poor's downgraded the sovereign debt ratings of Spain, which came after the ratings agency downgraded both Greece and Portugal earlier in the week.

The move raised speculation that the fiscal crisis in Greece was spreading to other troubled European economies. But traders said those concerns abated Thursday amid signs European officials were nearing a deal on additional support for Greece.

Athens has officially requested emergency loans from the European Union and the International Monetary Fund, and the Greek government said Thursday that the aid package being negotiated is worth about $160 billion.

"A measure of calm returned with regards to Greece," Brown Brothers Harriman said in a research note. "Markets are looking for a bigger Greek aid package over the weekend, which may give the euro a further boost Friday."

In the United States, investors gravitated towards more risky assets, such as stocks, after a host of major corporations released stronger-than-expected quarterly profit reports. The tone was also brightened by an upbeat economic assessment from the Federal Reserve on Wednesday.

"The risk trade returns cautiously as the Fed extends its policy accommodation and euro shorts scale down positioning in anticipation of EU/IMF deal," said Ashraf Laidi, chief market strategist at CMC Markets in London.  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
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


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.