The euro traded near a 28-month low on Monday, and analysts forecast its decline could continue, after a vote in Greece failed to secure a president.» Read More
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.
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.