The US dollar gained against all 16 major currencies today as fear of the European debt crisis caused slump of stocks and drove investors to safe currencies.

The euro started this week very poor. The currency currently shows weak attempts to regain its footing, but most analysts have a very negative outlook for the euro in the near-term. The reason remains the same: sovereign-debt crisis.

The Australian dollar sank against other major currencies today as stocks dropped on growing concerns about the European debt crisis.

The Great Britain pound gained today versus the euro as Executive Director and Chief Economist of the Bank of England Spencer Dale spoke about necessity to increase the lending rates, despite the problems of the UK economy. The currency slipped against the US dollar.

The US dollar ended week lower against most major currencies as the US economic data was negative for the whole week. The minutes of the Federal Open Market Committee monetary meeting further weakened the dollar as they showed that the Federal Reserve isn’t planning to increase the interest rates.

The Swiss franc gained after demand for safe assets was boosted by the downgrade of Greece’s credit rating by Fitch Ratings.

The Canadian dollar weakened today against the US dollar and the Japanese yen after the reports showed that the inflation increased less than predicted and the core retail sales unexpectedly dropped. The currency advanced against the euro.

The New Zealand dollar strengthened today as the positive outlook for the growth of the nation’s economy increased attractiveness of the currency.

Germany’s Bundesbank said that the growth of the nation’s gross domestic product can lose momentum, signaling that the major European economy isn’t as strong as was considered before and sending the euro tumbling down.

The US dollar declined as the signs of the weakening US economy caused speculation that the Federal Reserve will maintain its quantitative easing program, undermining dollar’s strength.