LONDON, Nov 21- Investment chiefs at the world's biggest asset managers this week unanimously forecast a stronger dollar in 2015, but they were far more cautious than many big banks on how far it would rise against the euro. Six months into a long-awaited rally for the dollar, Goldman Sachs and Deutsche Bank are among those predicting that this is just the start of...» Read More
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.
The dollar snapped a three-day decline against the euro and gained on the yen Friday, as solid September retail sales suggested U.S. consumers continue to spend despite a weak housing sector.
Euro-zone industrial production rose much more than expected in August, the European Union's statistics office said, raising hopes of continued strong growth despite a rising euro and the global credit crunch.
Financial market turbulence has so far failed to dent the euro zone economy and inflation dangers remain, European Central Bank policymakers said on Friday.
The dollar steadied against the euro on Friday as investors awaited US economic data that may shed more light on whether the Federal Reserve will continue to cut interest rates.
Citizen Bill Clinton just came back from Europe and he says, "It was expensive over there."I asked the former president if he were he still in the White House, would he be concerned about the weakening dollar, and he said he certainly would. "At this level, it's alright, but if it keeps falling it could become precarious," he said.
Euro zone growth turned out better than expected in the first quarter, making the second-quarter slowdown more pronounced, revised data showed on Thursday.
The dollar fell Wednesday on speculation that the Federal Reserve may cut interest rates again this year, to prevent a weak housing sector from damaging the broader economy.
The Singapore dollar hit a 10-year high versus the U.S. dollar on Wednesday after the central bank surprised markets by tightening monetary policy slightly, and other Asian currencies firmed as share prices rose.
The dollar fell against the euro on Tuesday, after earlier hitting a two-week high, as traders stepped in to buy back the common currency at cheaper levels.
Irked by the relentless ascent of their currency, euro zone finance ministers have decided to target China's yuan as the chief culprit in a quest for fair play on global exchange rates and trade.
A sprinkling of deal news, sinking oil prices and a firmer dollar are in the background as stocks edge higher Tuesday. The big news for markets though will come in the Federal Reserve's meeting minutes, set for release at 2 p.m. ET. The minutes of the September 18 meeting and the August 16 call will be released. Traders are watching for hints of what made the Fed take the aggressive step to slash the Fed funds rate by a half point, greater than the 1/4 point widely expected.
The Fed and the start of earnings season are two big focuses for stocks Tuesday, after Monday's dullish session. The Fed releases minutes of its September 18 meeting and its August 16 call at 2p ET. This time last week, traders would have been digging into those minutes to find any confirmation of their view that rates will be cut again at the Fed's October 31 meeting.
The dollar gained in quiet trade Monday against most major currencies as investors reassessed risk and bet that Friday's sell-off on a U.S. payrolls report was overdone.