Published : 09/10/2012
The dollar fell against most major currencies on early Tuesday after investors sold the unit for profits. The greenback rose earlier amid a risk-off session sparked by World Bank and International Monetary Fund cuts to growth forecasts, though profit-taking sent the currency softening somewhat.
The World Bank earlier said it had cut its 2012 growth forecast for developing Asia-Pacific economies to 7.2% from a May forecast of 7.6%. The World Bank also said China's economy will growth 7.7% this year, down from a May forecast of 8.2%. The International Monetary Fund, meanwhile, cut its 2012 global growth forecast to 3.3% from a July estimate of 3.5%.
E.U. ministers are holding talks this week over how to firewall and extinguish the debt crisis, while German Chancellor Angela Merkel is making her first trip to Greece since 2007.
Merkel's visit takes place as representatives from Greece's Troika of international creditors — the ECB, the European Commission and the International Monetary Fund — mull whether the country is meeting terms required to receive its next shot of financial aid.
Later Tuesday, eurozone finance ministers will hold talks to discuss ways to firewall and extinguish the debt crisis.
The dollar fell against most major currencies on early Tuesday after investors sold the unit for profits. The greenback rose earlier amid a risk-off session sparked by World Bank and International Monetary Fund cuts to growth forecasts, though profit-taking sent the currency softening somewhat.
The World Bank earlier said it had cut its 2012 growth forecast for developing Asia-Pacific economies to 7.2% from a May forecast of 7.6%. The World Bank also said China's economy will growth 7.7% this year, down from a May forecast of 8.2%. The International Monetary Fund, meanwhile, cut its 2012 global growth forecast to 3.3% from a July estimate of 3.5%.
E.U. ministers are holding talks this week over how to firewall and extinguish the debt crisis, while German Chancellor Angela Merkel is making her first trip to Greece since 2007.
Merkel's visit takes place as representatives from Greece's Troika of international creditors — the ECB, the European Commission and the International Monetary Fund — mull whether the country is meeting terms required to receive its next shot of financial aid.
Later Tuesday, eurozone finance ministers will hold talks to discuss ways to firewall and extinguish the debt crisis.