The dollar climbed Thursday against all major currencies that we monitor. The Euro climbed slightly but has since declined again.The Euro recovered early Thursday on hopes and in anticipation of a bailout for Greece. One report suggests that the bailout may be “larger” than previously thought, but there is still a lack of details. The crisis is not limited to Greece.

Investors are concerned that Portugal may be the next victim of the economic downturn. According to a Dow Jones report, the cost of insuring $10 million of Portuguese bonds against default for five years rose $50,000 to $430,000. Citing Markit, the cost for insuring $10 million of Irish and Spanish debt rose $33,000 and $17,000 respectively.

The dollar rose against all major currencies, according to our two surveys. The dollar remained steady against the Canadian dollar and the Chinese Yuan, but rose against the Japanese Yen and the Euro. According to the CME Group (NYMEX), gold futures are slightly lower Thursday (1:25 PST).