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11.02.2015 16:33

Foreign exchange market. American session: the euro traded lower against the U.S. dollar ahead of the euro group of finance ministers meetings

The U.S. dollar traded higher against the most major currencies in the absence of any major economic reports from the U.S.

The euro traded lower against the U.S. dollar as concerns over Greek exit from the Eurozone weighed on the euro. The euro group of finance ministers will meet in Brussels later in the day. Greece's Finance Minister Yanis Varoufakis is expected to present new reform proposals.

Investors speculate that the European Commission could extend Greece's existing bailout program. But German Finance Minister Wolfgang Schaeuble said today that there are no plans for a new agreement.

The British pound fell against the U.S. dollar in the absence of any major economic reports from the U.K.

The New Zealand dollar traded lower against the U.S. dollar. In the overnight trading session, the kiwi traded higher against the greenback in the absence of any major economic reports from New Zealand.

The Australian dollar traded lower against the U.S. dollar. In the overnight trading session, the Aussie traded mixed against the greenback despite the solid economic data from Australia. The Melbourne Institute and Westpac Bank released its consumer sentiment index for Australia on late Tuesday. The consumer sentiment index for Australia increased 8.0% in February, after a 2.4% rise in January. That was the largest monthly increase since September 2011.

The increase was driven by interest rate cut by the Reserve Bank of Australia and falling fuel prices.

Home loans in Australia climbed 2.7% in December, exceeding expectations for a 2.3% rise, after a 0.4% decrease in November. November's figure was revised up from a 0.7% drop.

The Japanese yen dropped against the U.S. dollar. In the overnight trading session, the yen declined against the greenback on comments by the Bank of Japan Governor Haruhiko Kuroda. He said at this week's Group of 20 (G20) meetings in Istanbul that there no criticism of the Bank of Japan's monetary easing program, indicating confidence to continue monetary stimulus measures.

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