LONDON, Oct 2- The euro retained its small gains against the dollar on Thursday but remained near a two-year low after the European Central Bank kept interest rates unchanged at historic lows as expected. Investors are now awaiting a news conference at 1230 GMT at which the bank's President Mario Draghi is expected to give further details of the ECB's plan to buy...» Read More
The dollar edged up Monday against the euro in European trading, helped by better-than-expected growth in the U.S. services sector.
The dollar sank to record lows against the euro and a major currency basket on Friday, as persistent worries about unreported losses at financial firms overshadowed a strong U.S. payrolls report.
The yen rose broadly Thursday after brokerages downgraded two of the largest U.S. banks, knocking equities lower and sparking fears that fallout from the credit crisis may sap investor appetite for risk.
The dollar fell to a record low against the euro after the Federal Reserve cut its benchmark interest rate by a quarter-percentage point and said the pace of economic growth will slow this year.
A surge in euro zone inflation in October beat all expectations, data showed, raising the odds for a rise in European Central Bank interest rates despite weakening sentiment and sending the euro up against the dollar.
The dollar fell to a record low against the euro for the third consecutive session on Tuesday, a day ahead of the outcome of a Federal Reserve meeting at which an interest rate cut is expected.
The United States is strongly committed to a strong U.S. dollar and financial markets there are recovering from the subprime loan crisis even if the housing market has yet to touch bottom, U.S. Treasury Secretary Henry Paulson said on Tuesday.
The dollar sank to another record against the euro on Monday, trading at as much as $1.44 against the 13-nation currency for the first time, as markets anticipated a likely interest rate cut by the U.S. Federal Reserve this week.
The dollar slipped to record lows against the euro and a basket of currencies Friday as investors, faced with a run of weak U.S. economic data, anticipate a Federal Reserve interest rate cut next week.
The United Kingdom is one of five trillion-dollar economies in western Europe. Its economic strength has allowed it to remain independent of the European Union, and public opinion polls have shown steady, substantial opposition to abandoning the pound for the euro.
Is the U.S. dollar bottoming? CNBC's Rick Santelli thinks it might be. The dollar has been on a downhill slide against the euro and other currencies for weeks now. As of the end of last week, the dollar lost 7.7% against the euro since the beginning of the year, and it continued to move lower overnight. But it did a reversal this morning, and that makes Santelli think it's time to look at the charts.
The dollar rebounded from a fresh low on Monday after as traders pared back bets against the currency after the weekend's Group of Seven meeting yielded no call to action on the falling greenback.
Worry about slowing economic growth and a new bout of credit fears ignited the global sell off in stocks which continues into the U.S. open. Wall Street was the first market to spiral downward in Friday's big sell off amid worries the U.S. sub prime mess will take longer to sweep away than expected and is fanning out into other types of credits.
Already at an all-time low against the euro, the dollar looks set to plumb new depths this week after Group of Seven finance chiefs ended a weekend meeting without offering verbal support for the U.S. currency.
The dollar hit a fresh record low against the euro and a basket of currencies on Friday, pressured by the growing view that a slowdown in the U.S. economy will force another cut in interest rates this month.
The dollar dropped to a record low against a basket of currencies and the euro Thursday, after Bank of America's third-quarter earnings results missed estimates, renewing concerns of a U.S. economic slowdown.
Stocks are struggling with familiar problems this morning: 1) The Yen has rallied against the dollar and other currencies, again reviving concerns about the yen carry trade unwinding; European equities are lower.
The dollar fell broadly Wednesday after a report showed housing starts dropped to their lowest level in 14 years in September, adding to concerns that the housing market may drag on the US economy.
The dollar rose against the euro and high-yielding currencies such as the New Zealand dollar Tuesday, as investors grew cautious of risky trades amid a sell-off in global equities and a surge in oil prices.
The yen hit its lowest levels in around two months against both the dollar and euro on Monday, as risk-seeking investors took advantage of cheap Japanese borrowing costs to fund purchases of high-return assets.