Dollar advances as euro braces for key Greece meeting
Dollar advanced against the euro and the yen on the eve of key Greek debt talks.
NEW YORK (AFP) - The dollar Tuesday advanced against the euro and the yen while traders girded for euro volatility on the eve of key Greek debt talks.
The dollar, which retreated Monday due to profit taking, resumed its upward climb following Friday s buoyant US jobs report.
"Market confidence has struggled of late amid worries about Greece s debt dilemma, instability in Ukraine and mounting signs of slowing growth in China," said Joe Manimbo, senior market analyst at Western Union Business Solutions.
"However, the US remains a bright spot for the world economy, particularly after data last week showed faster-than-expected hiring."
Friday s labor market report showed the US added a surprisingly robust 257,000 jobs in January and the prior two months job gains were revised higher.
Manimbo said the report "intensified a spotlight on the Federal Reserve, with expectations on the rise for the bank to lift borrowing rates this year."
Christopher Vecchio, currency analyst at DailyFX, said the euro could see bumpy trade with Wednesday s emergency meeting of eurozone finance ministers in Brussels as Greece seeks to renegotiate its international bailout.
"Not dissimilar from the pre-ECB leaks at the end of January, price over the next 24-hours is probably very susceptible to rumors and headlines," Vecchio said.
