The dollar held gains against its peers, drawing support as the euro slid overnight on increasing worries that Greece could default on its debt.» Read More
With weakness in Greece dragging down the euro, how should you game currencies? Find out from Fast Money's Ambassador, Tim Seymour!
The European Union finance ministers will try to pin down Greece on its strategy for reducing its huge deficit and plans to reform its statistics office.
Crisis? What crisis? ….. That seems to be the message German Chancellor Angela Merkel wanted to send out after a top-level coalition meeting in Berlin last night.
The euro will become the world's favorite reserve currency because Europe has a better growth strategy than the US, David Roche, global strategist at Independent Strategy told CNBC.
The number of counterfeit euro bank notes withdrawn from circulation rose 8 percent during the last six months of 2009, with the 20 euro ($28.80) bill the most widely forged, the European Central Bank said Monday.
Diego Iscaro from IHS Global Insight says he believes Greece will not be allowed to fail given the impact it would have on other euro zone members like Spain, Ireland and Portugal.
The recent decline in the euro versus the dollar is the start of a larger correction and investors should sell any rallies in the currency cross, Roelof van den Akker from ING Wholesale Banking told CNBC Tuesday.
Fears are growing that Greece or another weak country may default on its sovereign debt obligations, forcing the richer countries in Europe to ride to the rescue or face the risks, the New York Times reports.
Analysts predict the U.S. currency will build on its end-of-the-year gains, but it will only be a modest rally on the back of the improving economy and higher interest rates.
Moody's smaller than expected downgrade of Greece's credit rating shows that markets are starting to believe the government's efforts to contain the budget deficit, Greek Finance Minister George Papaconstantinou told CNBC Tuesday.
The European Summit kicked off Friday with Greece's mounting debt and deficit problems at the head of the conference agenda.
Nassim Taleb, the author of "The Black Swan", said he would retire from public life if Federal Reserve Chairman Ben Bernanke gains a second term at the helm of the central bank.
"The dollar over the next year or two will tend to see downward pressure because our recovery will be fragile and uneven," says one economist.
Pros say there is little to stop the dollar decline until US officials start curbing deficits or the Fed starts boosting interest rates.
The American currency is under siege. It is trading near 14-month lows and there are questions about whether it deserves its status as a reserve currency.
If you really want to understand the implications of the falling U.S. dollar, make a run for the border—the U.S./Canadian border, where currency fluctuations are felt just about everywhere money changes hands.
While most oil comes from outside the U.S., it is traded almost exclusively in U.S. dollars. That means investors who are worried about the value of the dollar can easily convert their dollars to oil.
The dollar is likely to sink further against the euro and could hit the lows of July 2007 at $1.60, Roelof van den Akker, chartist at ING Wholesale Banking, told CNBC.
There is renewed talk about the weak dollar. But don’t believe it.
The recent weakness in the dollar index is likely to continue and it could soon hit an all-time low of 70.65 points, Royce Tostrams, technical analyst from Tostrams Groep, told CNBC.