Dollar up against euro, pound, flat vs yen

The dollar is rising against the euro and pound as the Fitch ratings agency says it will rule Greece has defaulted on its debt as a result of a crucial new aid plan backed by European leaders.

The plan gives officials new powers aimed at stopping the debt crisis from spreading to Europe's larger economies, Spain and Portugal. It had been expected the ratings agencies would say Greece had defaulted as a result of the new bailout.

The new euro109 billion ($156 billion) bailout had driven the euro above $1.44 Thursday.

Oil prices rebound on weak dollar, eurozone draft deal

Oil prices rebounded Thursday as the dollar sank against the euro on news of a draft eurozone summit deal to provide loans on improved terms to debt-ridden members like Greece, Ireland and Portugal.

New York's main contract, West Texas Intermediate (WTI) light, sweet crude for delivery in September, rallied $1.13 to $99.53 a barrel, after briefly breaching the psychological level of $100 for the first time since June 10.

Brent North Sea crude for September added 48 cents to $118.63.