Dollar advances while euro loses gains (MarketWatch) (30-01-2012)

FRANKFURT — The US dollar showed gains on Monday while the euro lost ground as European leaders gathered for the first summit meeting of 2012 amid ongoing worries over Greece and the region’s sovereign-debt crisis. The dollar index fell 1.7% last week while against the yen it bought ¥76.65, down marginally from ¥76.70 in late trading at the end of last week.

The benchmark which measures the U.S. unit against a basket of six other currencies, stood at 79.274, up from 78.854 late Friday.

The euro traded at $1.3118, down from $1.3216 in late North American dealings on Friday.

Tensions between Greece and Germany were on the rise ahead of the summit meeting in Brussels, with Greek officials rejecting a proposal by Germany for European Union veto power over Athens’s spending plans.

The British pound fell to $1.5692, down from $1.5740 North Friday.

Source: MarketWatch