Dollar little changed with Greek vote, U.S. data on tap

Investing.com – The dollar was little changed against a basket of other major currencies on Wednesday, as investors eyed a second Greek vote on reform proposals as well as data on U.S. existing home sales, both due later in the day.

EUR/USD was steady at 1.0935, off the previous session’s one-week highs of 1.0970.

Sentiment on the euro was vulnerable as the Greek parliament was set to vote later Wednesday on a second set of reforms needed to secure the country’s bailout deal.

If lawmakers approve the financial and judicial reforms, Greece will be able to press ahead with negotiations for an €86 billion bailout from its creditors.
Greece’s next major deadline is August 20, when it must pay €3.2 billion owed to the European Central Bank, followed by a payment of €1.5 billion to the International Monetary Fund in September.

The pound was higher, with GBP/USD up 0.38% at 1.5615.

Earlier Wednesday, the minutes of the Bank of England’s July meeting showed that all nine members of the Monetary Policy Committee were in favor of leaving the key interest rate at a record low of 0.5% and making no changes to the central bank’s £375 billion asset-purchase program.
According to the minutes, a number of policymakers see rising inflation risks.

Elsewhere, the dollar was lower against the yen, with USD/JPY down 0.15% at 123.70 and steady against the Swiss franc, with USD/CHF at 0.9589.
The Australian dollar was steady, with AUD/USD at 0.7418, while NZD/USD slipped 0.11% to 0.6617.

Data earlier showed that Australia’s consumer price index rose 0.7% in the second quarter, less than the expected 0.8% increase and following an uptick of 0.2% in the three months to March.

Separately, Reserve Bank of Australia Governor Glenn Stevens said, at an event in Sydney, that the bank’s two rate cuts this year appeared to be working to stimulate growth.

Meanwhile, USD/CAD rose 0.20% to 1.2972, re-approaching Monday’s six-year highs of 1.3027.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 97.44

Source: Reuters, Investing.com

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