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The dollar rose broadly to a two-month high on Friday as surging U.S. Treasury yields widened their advantage over other major government bonds and amid sharply reduced expectations for interest rate cuts by the Federal Reserve.
The dollar strengthened broadly as a rise in U.S. Treasury yields above 5% boosted demand for the U.S. currency, while news that North Korea fired short-range missiles off its coast hurt the yen.
The Australian dollar rose to a fresh 17-year high on Thursday after the second straight month of stronger-than-expected domestic jobs data fuelled concerns the central bank might increase interest rates in the near term.
Fading prospects of a rate cut by the Fed and no signs from the European Central Bank that it would continue to tighten monetary policy beyond 2007 lifted the dollar against the euro.
The dollar fell against the euro and yen on Tuesday, dipping below key technical levels after Federal Reserve Chairman Ben Bernanke said the ailing U.S. housing sector may remain a drag on economic growth.
The dollar declined broadly as the U.S. currency failed to extend gains after last week's robust jobs data, while demand for currencies linked to rising interest rates strengthened.
The dollar rose to a seven-week high against the euro, on track for a fifth consecutive week of gains, as strong U.S. jobs and manufacturing data damped expectations of a Federal Reserve interest rate cut this year.
The dollar touched a three-month peak against the yen after a strong report on business activity in the U.S. Midwest, but it failed to sustain gains before key payrolls data due on Friday.
The dollar rose to a seven-week high against the euro as minutes from the Federal Reserve's last meeting reiterated policy-makers' view that inflation remains a top concern.
The dollar edged lower against the yen after China said it would raise a stamp duty on stocks in an attempt to cool its equity markets, prompting concerns about risky trades financed by borrowing in the Japanese currency.
The U.S. dollar hovered near a six-week high against the euro and its strongest versus the yen in three months on Monday as traders determined that weak U.S. housing data late last week was not enough to warrant a cut in U.S. interest rates later in the year.
The dollar eased against the euro after a surprisingly weak report on existing home sales rekindled worries that a downturn in the U.S. housing sector may have further room to run.
The dollar rose after a report showed that U.S. new home sales rose more than expected in April, reinforcing a view that the Federal Reserve may not have to cut interest rates this year.
The dollar fell after minutes from a Bank of England policy meeting and strong data on euro-zone industrial orders suggested interest rates in Europe could rise more than previously thought.
The dollar traded near six-week highs against the euro and a three-month peak versus the yen as traders continued to pare back expectations of a Federal Reserve interest rate cut this year.
The dollar hit a five-week high against the euro and a three-month peak versus the yen as investors further trimmed bearish bets on the greenback amid a growing view the Federal Reserve may not cut interest rates this year.
The dollar hit a five-week high as investors pared back aggressive bets against the currency after limited reaction to China's move on the yuan and rates last week shifted focus to U.S. economic fundamentals.
Kuwait unshackled its dinar from the tumbling U.S. dollar on Sunday and switched the exchange rate mechanism to a basket of currencies, throwing plans for currency union with other Gulf Arab oil producers into disarray.
Group of Eight finance ministers did not discuss currencies and gave no surprises at their weekend talks, leaving financial markets on Monday to take cues from swings in investor risk appetite from Chinese stocks.
The U.S. dollar held around a three-month high against the yen after a regional survey showed an unexpectedly large rise in U.S. business activity, backing a view that interest rates will stay on hold for some time.