By Omer Esiner of TravelexThe dollar regained its composure overnight, bouncing off of a six-week low against a basket of its major counterparts. Investors this week sold the low-yielding greenback amid a broad improvement in investor risk appetite, largely fueled by pledges from the Federal Reserve and the Bank of Japan to keep monetary conditions extremely simulative to ensure that the economic recovery gains meaningful traction. An environment of loose monetary policy and improving global growth tends to favor higher-yielding and riskier assets like stocks, commodities and emerging-market currencies. Moderating concerns about Greece' credit woes added to the generally improved sentiment throughout global financial markets this week as well. However, a Dow Jones report overnight that Athens may turn to the IMF for financial assistance if no EU agreement for a bailout is reached rekindled concerns about sovereign credit risk and prompted the single currency to pare some of its recent gains. Uncertainty about the future of Greece and similarly indebted eurozone states has undermined the single currency for much of 2010 and should continue to keep its upside very limited in the months ahead. The Canadian dollar remains a standout among major currencies, holding within sight of a 20-month peak against the dollar and a 30-month high against the euro. Crude oil above $82 a barrel and generally positive domestic economic news continue to support the loonie. EUR: The single currency pared some of its recent gains across the board after Dow Jones reported that Greece may seek IMF assistance if a bailout agreement is not reached at an upcoming EU summit on March 25. News flow out of the eurozone has dictated the single currency's direction for the better part of the last four months. Headlines that suggest European officials are closer to a resolution for deeply indebted Greece have lessened investors' concerns over sovereign credit risk and supported the euro, while reports that play up the lack of resolution have fanned worries and undermined the single currency. The Dow Jones story overnight also played up the growing rift between Germany, the eurozone's largest economy, and Greece. A lack of resolution of Greece's debt issues within the EU would be an embarrassment for the bloc and would likely undermine the notion of unity and cohesion within the eurozone, further dampening market demand for euro-denominated assets.