Skip navigation
Watchlist Sponsored By :


Current DateTime: 12:40:34 28 Nov 2009
LinksList Documentid: 24355697
  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

  • Wines for the Holidays

      Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES


Current DateTime: 12:40:35 28 Nov 2009
LinksList Documentid: 33793611
  • How Well Do You Know Your Bird?

      Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.

  • A Healthier & Wealthier You

      Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.

  • The Billionaire BFF's

      Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?


Current DateTime: 12:40:35 28 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
Dollar Climbs to 2-Month High Against Euro
By: Reuters | 12 Jun 2007 | 05:00 PM ET
Text Size

The dollar climbed against the euro Tuesday to two-month highs as rising U.S. Treasury yields lured investors.

With few major U.S. economic indicators on Tuesday, dealers stuck to buying dollars based on the recent advantage of U.S. government bond yields over other government debt, a trade some analysts said could be close to running its course.

"The dollar's getting support from Treasury yields," said Ron Simpson, director of currency research at Action Economics in Tampa, Florida. "But we're waiting for U.S. retail sales, CPI and PPI later in the week which may determine the dollar's direction."

Mid afternoon in New York, the euro [EUR-TN  Loading...      ()] was down 0.3 percent from late Monday, after touching a two-month low of $1.3311. The dollar was little changed at 121.74 yen [JPY-TN  Loading...      ()] , still near a 4-1/2-year high around 122.20 yen hit in January.

Expectations of a near-term cut in U.S. interest rates have faded, sending bond yields higher. This, coupled with continued concerns about inflationary pressures voiced by Federal Reserve policy-makers, has supported the dollar.

Some analysts cautioned that views on the dollar could change, depending on what information is gleaned on Wednesday from the U.S. retail sales report for May. The U.S. producer price index for May will be released on Thursday, with the U.S. consumer price index for May released on Friday.

Eye on China

Investors will also be watching the U.S. Treasury's semiannual Report on International Economic and Exchange Rate Policies Wednesday, for any comments on China's yuan.

The yuan on Tuesday posted its largest gain against the dollar since its July 2005 revaluation, rebounding from a three-day slide after the central bank set a much higher reference rate for the Chinese currency.

American policy-makers have argued that China's managed currency policy artificially weakens the yuan, favors Chinese exports and widens the U.S. trade gap. While the Treasury report is not expected to label China a currency manipulator, investors may remain cautious ahead of the report.

Investors will also closely monitor the unveiling of a bill in the Senate Wednesday that would allow the U.S. to impose penalties on countries setting their currencies artificially low.

New Zealand Dollar Up

The New Zealand dollar [NZD-TN  Loading...      ()] was up 0.1 percent though dealers took few big bets after the Reserve Bank of New Zealand intervened in the market and weakened its currency for the first times since the kiwi was floated in 1985.

The RBNZ's intervention has not dented investor focus on reaching for higher yields and rewarding currencies where interest rates are likely headed higher.

Monday's RBNZ selling helped to drive the New Zealand dollar down as much as 2 percent. On Tuesday the New Zealand dollar was still up 6.8 percent this year to date.

Copyright 2009 Reuters. Click for restrictions.
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • These four sectors will be the next to lead the market.
  • Zhu Zhu Pets are this year's must-have toy, fetching $40 or more on eBay.
  • T shirt man
  • From the why-didn’t-I-think-of-that file, we present Jason Sadler, a man whose job is wearing T-shirts.
  • It may be the most unusual guide to business you'll read.
  • Shopping for a gadget hound? The choices can be baffling. Here are a few that should be a hit.
  • "The Who" will be the halftime act for Super Bowl XLIV on Feb. 7 in Miami. Is the NFL behind the times?
ADD COMMENTS
Remaining characters


Current DateTime: 01:03:47 28 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:03:47 28 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 01:03:47 28 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:03:48 28 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters