LONDON (MarketWatch) -- The U.S. dollar was higher versus most major rivals Monday, gaining ground on the European single currency after euro-zone finance ministers downplayed expectations for a detailed Greek aid plan at their monthly meeting later in the day. A weaker tone in equity markets following a warning by credit-rating agency Moody's over U.S. and British debt levels provided some general support for the U.S. dollar, analysts said. Read about the Moody's report. Since last year, the dollar has tended to benefit from safe-haven buying when equities slip, while falling when equities rise. The euro (CUR_EURUSD 1.3711, -0.0055, -0.3995%) ended last week on a strong note amid talk of a package of loan guarantees or other aid by euro-zone countries for debt-burdened Greece. The single currency edged down to $1.3725 versus the dollar Monday, down from $1.3760 in North American trade late Friday. News reports over the weekend said euro-zone officials were close to an agreement on some form of aid package. But finance ministers, including France's Christine Lagarde and Germany's Wolfgang Schaeuble, indicated no details would be forthcoming at Monday's monthly meeting of euro-zone finance ministers. Read story about Greece aid plan. For the short-term, the euro/dollar currency pair "has entered a sideways consolidation pattern," wrote strategists at KBC in Brussels. "Quite a lot of bad news has apparently been priced in for the euro. To be honest, we don't expect the recent (moderately positive) developments on Greece to be the trigger for a sustained euro rebound." The dollar traded at 90.71 Japanese yen, up from 90.51 yen in late Friday's North American trading. The dollar index (DXY 80.05, +0.21, +0.27%) , which measures the U.S. unit against a trade-weighted basket of six major currencies, traded at 80.067, up from 79.830 late Friday. Meanwhile, China's premier rebutted arguments that the yuan is undervalued and should appreciate and said other countries should not pressure the country about its exchange-rate policy. See full story on China yuan comments. Wen Jiabao, speaking Sunday as the Chinese legislature's annual meeting ended, nonetheless did not rule out the possibility that the yuan could rise in value and reiterated that the country would continue to reform its currency system, according to reports. The British pound, which popped higher Friday, was weaker Monday, falling 1% versus the U.S. unit to $1.5045. The euro rose 0.7% to change hands at 91.19 pence. The Moody's report and polls that continue to show U.K. elections, expected on May 6, could result in a hung parliament weighed on the pound, strategists said. The pound's "pullback to $1.52 should limit selling pressures for now, but sterling will remain exposed to big swings in the run-up to the U.K. May 6 elections," wrote strategists at UniCredit in Milan.

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