The US dollar is stronger against a basket of currencies as persistent worries about Greece's debt problems brought risk aversion back to the forefront. With little economic news from the US, the main driver today is debt-ridden Greece's prospects for a potential bailout.
The euro came under pressure as market players await to see if Greece can secure aid from the Eurozone at a summit next. The European Union's monetary affairs chief urged the bloc's leaders to agree on a standby aid package for Greece next week, but many investors fear it could prove impossible to construct a financial security net because of Germany's reluctance.
The British pound slipped after remarks by a Bank of England policymaker that there was some risk of a double-dip recession. Monetary Policy Committee member Andrew Sentance said he expected inflation in Britain to fall back to the central bank's 2% target or below due to muted wage growth.
The Japanese yen weakened against the dollar but remains at steady levels seen all week ahead of a Japanese holiday on Monday.
The Canadian dollar strengthened overnight after positive economic news but soon erased those gains on concerns over Greece's debt woes. Statistics Canada reported core inflation which excludes items like gasoline, reached 2.1% in February. Core CPI jumped 0.7% in February, the biggest increase since November 2008.
The Australian and New Zealand dollars weakened vs. the US dollar but reached a near record high against the euro. The Aussie and Kiwi weakened as investors' fled to the safe-haven greenback on persistent worries over Greece's debt problems. Oil and gold prices also lost their recent gains which pushed the Aussie and Kiwi lower against the US dollar.
10-Year Treasury Note Yield: 3.676%
Dow Jones Industrial Average: 10,751.66 - 27.51