The euro flirted with a two-year trough against the dollar as investors gave the currency a wide berth on prospects of more easing from the ECB.» Read More
The yen rose across the board on Wednesday as falling European stocks encouraged investors to reduce exposure to risky assets and unwind carry trades despite the Federal Reserve's hefty interest rate cut.
The dollar tumbled against the euro Tuesday after the Federal Reserve unexpectedly slashed its benchmark overnight lending rate in an attempt to allay market fears of a U.S. recession.
The low-yielding yen rose broadly on Monday, hitting a 2-1/2 year peak versus the dollar and five-month highs against the euro as investors shunned risky trades amid a sell-off in global stocks.
The dollar gained against the euro and yen Friday as rising equity markets calmed investors, prompting a few to edge back into relatively risky carry trades.
The dollar dropped Thursday after Federal Reserve Chairman Ben Bernanke told a congressional committee that more interest rate cuts may be necessary and that the U.S. economic outlook has worsened.
The euro zone's trade surplus shrank more than expected in November amid a strong euro as imports grew faster than exports, the European Union's statistics office said on Thursday.
The euro plunged against the U.S. dollar after a European Central Bank official told Bloomberg News the central bank may revise down its euro zone growth forecasts for 2008.
The dollar Tuesday fell to its lowest against the yen since June 2005 and extended declines against the euro after U.S. retail sales data provided further evidence an economic slowdown was spreading to the consumer.
Important economic data will compete with Citigroup's much-anticipated earnings report ahead of Tuesday's opening bell. Retail sales data is being particularly watched to see if it is weak enough to prompt the Fed to cut rates even before its regular meeting at the end of the month.
The dollar dropped to a record low versus the Swiss franc and seven-week lows against the euro and yen on Monday as concern that weak U.S. corporate earnings will prompt more interest rate cuts weighed on the currency.
The haves and have nots this earnings period could come down to who has the biggest foreign exposure. Look what happened with IBM today. The weak dollar is its friend.
The yen strengthened across the board on Friday as global equity markets sagged on renewed fears that the U.S. financial sector may suffer even more losses, diminishing investors' risk appetite.
When central bankers speak, markets listen. That's why we're all waiting for Fed Chairman Ben Bernanke's comments on the economy at 1 p.m. today. But it looks like European Central Bank President Jean-Claude Trichet beat him to the punch.
The euro climbed across the board Thursday, after European Central Bank President Jean Claude-Trichet flagged more interest rate increases in the euro zone, citing lingering inflation pressures.
The European Central Bank left interest rates unchanged on Thursday amid continuing uncertainty regarding the outlook for the economy.
The European Central Bank seems to have little choice but to keep rates on hold this time as well, despite rising inflation. Money markets are still not back to normal and there are signs of a weakening economy.
The dollar climbed Wednesday following comments from a Federal Reserve official who said it would be a mistake to say a U.S. recession is at hand.
An evocative smell from childhood can quickly trigger the realization that cost cutting is not a strategy, but a reaction that, without corresponding investment, will doom industries.
The yen retreated across the board Tuesday as investors waded back into risky carry trades, sparked by gains in global equities and a rise in commodity prices.
The dollar edged upward against the euro and the pound Monday as markets pondered whether rising inflation in the euro zone and Britain may bring interest-rate changes later this week.