Forex News - The U.S. dollar was broadly higher against its major counterparts on Wednesday, as ongoing concerns over the financial crisis in the euro zone weighed on demand for riskier assets.
During U.S. morning trade, the greenback was higher against the euro, with EUR/USD sliding 0.36% to hit 1.3230.
The euro was hit by concerns over the impact of the debt crisis on the region's banking sector and economy, after data showed that private sector growth in the euro zone contracted for the first time in two years in September.
The greenback was also higher against the pound, with GBP/USD down 0.45% to hit 1.5417.
Earlier Wednesday, a report showed that growth in the U.K. service sector unexpectedly increased in September.
A separate report showed that U.K. second quarter growth was unexpectedly revised down, fueling concerns over fresh easing measures by the Bank of England.
Elsewhere, the greenback was almost unchanged against the yen and up against the Swiss franc with USD/JPY edging up 0.06% to hit 76.85 and USD/CHF climbing 0.86% to hit 0.9243.
Meanwhile, the greenback was lower against its Canadian Australian and New Zealand cousins, with USD/CAD dropping 0.36% to hit 1.0472, AUD/USD rising 0.29% to hit 0.9600 and NZD/USD inching up 0.08% to hit 0.7608.
Earlier in the day, official data showed that Australian retail sales rose more-than-expected in August, as spending on household goods and dining out increased.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.21% to hit 79.59.
Also Wednesday, the U.S. Institute for Supply Management said its services index dipped to 53.0 last month from 53.3 in August but employment in the sector fell to its lowest level since April 2010.
A separate report showed that U.S. private sector employment rose more-than-expected in September, increasing by 91K from a downwardly revised 89K the previous month.
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