The euro fell as soft euro zone inflation data rekindled concerns the ECB may have to act to combat deflation, while the dollar gained.
The dollar rose against a basket of currencies on Thursday after data showed the US economy produced solid growth in the fourth quarter.
Thursday is the biggest earnings day of the quarter, with roughly 10 percent in the S&P 500 reporting results.
Several analysts see an upside for Russia to the emerging market rout, seeing it as "easy money" for the government's coffers.
The yen rose against the dollar, suggesting emergency action to stabilize Turkey would not be enough to quell nerves over emerging markets.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including news Fiat Chrysler will be incorporated in the Netherlands, and the death of an American banker in London.
We are at one of those strange moments in modern trading where an obscure currency is the proxy for an emerging market crisis.
Manik Narain, head of EMEA FX and fixed income strategy at UBS, discusses the currency trades amid the emerging market meltdown.
The dollar regained a firmer footing against the yen on Tuesday as investors took a breather from a sell-off of stocks and emerging market assets.
CNBC's Carl Quintanilla reports on all the market moving events in Europe today, including Siemens posting a 20 percent rise in quarterly net profits.
CNBC's Ross Westgate reports on all the market moving events from Europe, as Turkey's central bank convenes an emergency meeting today ahead of an expected rate hike.
Safe-haven currencies like the yen and the Swiss franc were much in demand on Monday as an emerging markets sell-off continued.
CNBC's Ross Westgate reports on all the market moving events from Europe, as emerging market fears continue to weigh on equities.
Michael Sneyd, FX analyst at BNP Paribas, says the moves in emerging market currencies stem from concerns over whether China can handle a slowdown in its economy.
Two-thirds of respondents from CNBC's weekly forex survey are bullish on the greenback. CNBC's Sri Jegarajah reports.
Authorities have been vague about what is going on, but take a look at this comment from Stanley Black & Decker CEO John Lundgren.
The yen, Swiss franc and euro charged higher amid worries about a China slowdown and turmoil in some emerging markets.
CNBC's Carl Quintanilla reports on all the market moving events in Europe today, including a rough day for Spain and the currency crisis in Argentina.
Turbulence in emerging markets has become the main course for what has been a rather unappetizing start to 2014.
Kim Choongsoo, governor at the Bank of Korea, warns that "competitive devaluation of foreign exchanges" can have "grave consequences."