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01 Mar - Fundamental
The dollar firmed against major other currencies Monday as European leaders continued to urge Greece to lower its deficit and ahead of U.S. economic data.
What prices are doing: The dollar climbed 0.8% against the euro to $1.3527, and surged 2.2% against the British pound to $1.4906. The greenback rose 0.4% against the yen to ¥89.29.
What's moving the market: European finance official Olli Rehn met with Greece's finance minister in Athens to push the debt-challenged nation to cut its deficit.
The dollar soared against the pound after Britain's Prudential PLC agreed to buy AIG (AIG, Fortune 500)'s Asian life insurance business in a deal valued at $35.5 billion, and an election poll showed the Conservative Party's lead over the Labor Party continued to narrow. The poll suggested that neither party may hold a majority in Parliament after the June election, which is a rarity and could stall legislative measures, including reducing the deficit.
The Institute for Supply Management was expected to release figures for manufacturing activity in February later in the morning. Economists expect the index will drop for the first time in six months.
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